FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Q BioMed Announces FDA Approval.”
Q BioMed Inc. (OTCQB: QBIO), announces FDA approval of its contract manufacturer IsoTherapeutics Group LLC (ITG). ITG is now cleared to manufacture the Company’s FDA approved non-opioid cancer bone pain drug Strontium-89 Chloride USP.
Q BioMed Inc. is a biotech acceleration and commercial stage company. We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets; strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.
In 2019, the American Cancer Society is estimating a total of 1.76 million new cancer cases and 606,880 cancer-related deaths in the U.S. The National Cancer Institute expects prostate, lung, breast, and colon/rectal cancer to account for the majority of the new estimated cases. Generally, most cancer patients undergo some type of therapy, whether it is chemotherapy or immunotherapy, and while these therapies can increase the survivability of a patient, there are several drawbacks. One of the most common symptoms associated with cancer therapy is chronic pain. Additionally, pain can also result from the cancerous tumor itself by pushing onto bones, nerves, or other organs. And according to Cancer Research UK, typically 30% to 60% of cancer patients deal with some sort of pain. Meanwhile, up to 90% of patients suffering from advanced cancer face similar pain management issues. Overall, the pain resulting from cancer can severely impact daily life activities such as typical day-to-day jobs, eating, and even sleeping. Most patients are also typically prescribed some sort of opioid-based painkillers, which is used to suppress the pain. However, opioids can also cause adverse effects; opioid painkillers such as morphine and oxycodone are commonly prescribed to cancer patients dealing with pain. Consequently, many patients tend to develop a dependency on opioids. Moreover, side effects associated with opioids includes dizziness, respiratory issues, and depression. And long-term effects can cause life-threatening issues to internal organs such as kidney failure. As a result, pharmaceutical companies have manufactured non-opioid or non-narcotics to help control or suppress pain. Some non-opioid medications can be purchased over-the-counter, however, stronger dosages may require a prescription. And according to data compiled by Mordor Intelligence, the global cancer therapy market was valued at USD 136.25 Billion in 2018.
The American Cancer Society mentioned that patients should never accept pain as a normal part of having cancer. The organization said that patients should work with their medical physicians in order to control or lessen the pain as much as possible. Generally, the most common forms of pain are spinal cord compression and bone pain. Spinal cord compression is when a tumor spreads to the spine and presses onto the nerves of the spinal cord. Mild symptoms associated with spinal cord compression are usually back or neck pains. In severe instances, the matter can cause excruciating pain, numbness, or weakness in the arms and legs. The American Cancer Society stated that patients should immediately treat spinal cord compression because it can result in the loss of control over the bladder and bowels or ultimately even lead to paralyzation. On the other hand, bone pain is caused when cancer starts or spreads into the bones. Typically, treatment is aimed towards regulating cancer from affecting other parts of the body. Patients are often prescribed opioids as a common painkiller, but the adverse effects have prompted many to turn against the use of opioids. In fact, the National Cancer Institute highlighted that many oncology care providers relied heavily on opioids. Now, some primary care doctors no longer prescribe opioids, while some insurance companies have made it increasingly more difficult to obtain these medications. And as a result, more and more prescribers have been reluctant to introduce opioids and are now exploring different alternatives such as therapy or non-opioid drugs. “We providers have to educate our patients to help them understand that the role of opioids and other pain medications is to allow them to move and function better,” said the National Cancer Institute. “For some people, that may mean being able to walk around the block. For some, controlling the pain will allow them to return to work. And for those patients who are more fragile, the goal of pain medications may be to make them sufficiently comfortable to be able to hold their grandkids, or to sit comfortably on a hard chair in a church or restaurant.”
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