Rainbow Coral Corp. (OTCBB: RBCC) received a boost recently when researchers reported that a medication that could help tens of thousands of alcoholics quit drinking are underused.
According to the high-profile findings, which were reported by the New York Times, the prescription drug Naltrexone can help reduce cravings for alcohol by fine-tuning the brain's chemical rewards system. A lack of awareness among doctors as well as other factors have resulted in the drug's being underused, researchers reported earlier this month. Because the Affordable Care Act requires insurers to provide coverage for substance abuse treatments and services, many addiction specialists expect to see increases this year in the number of people seeking medical help for alcoholism.
That's good news for RBCC. The company formed a joint venture with TheraKine, Ltd., to deliver a new injectable, sustained-release technology poised to vastly improve patients' use of Naltrexone. Phase I of the joint venture's research established excellent compatibility between the drug and TheraKine's hydrophobic injection matrix, as well as a highly promising release profile. Phase II focused on micronization of the technology as well as extension of its sustained release time.
This summer, RBCC will focus on demonstrating the new technology's readiness for market with the number of prescriptions for alcoholism predicted to rise.
RBCC's biotech division, Rainbow BioSciences, is working with partners such as TheraKine to capitalize on the incredible growth of the global drug delivery market by delivering new medical and research technology innovations in order to compete alongside companies such as Bristol Myers Squibb Co. (NYSE: BMY), Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Valeant Pharmaceuticals International (NYSE: VRX).