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Why Collegium Pharmaceutical Shares Are Tumbling 12.9% Today

TheMotleyFool

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Why Collegium Pharmaceutical Shares Are Tumbling 12.9% TodayPhoto, wide shot, wide-angle lens, soft focus, Pharmaceutical company, sunset photo at golden hour, photo by Peter Lik: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-TIgKJfhK8q44RPNTTsL9npu7.png?st=2023-05-08T05%3A58%3A04Z&se=2023-05-08T07%3A58%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-08T02%3A36%3A56Z&ske=2023-05-09T02%3A36%3A56Z&sks=b&skv=2021-08-06&sig=BDDjRcmCPf%2BH//HSxRGZYByMqOKev8lx0/Dhvka/lXk%3D

Why Collegium Pharmaceutical Shares Are Tumbling 12.9% Today

After FDA commissioner Scott Gottlieb issued a statement suggesting an easier path to winning approval for generic opioids that are abuse deterrent, shares in Collegium Pharmaceutical's (NASDAQ: COLL) were sliding 12.9% at 3:45 p.m. EST Wednesday.

In an effort to boost the prescribing of abuse-deterrent opioid medicines for pain relief, Gottlieb's statement outlines changes that could increase competition and drive down the prices.

Image source: Getty Images.

Source: Fool.com