The Latest Breaking News from Health Canada

Tax revenue is the name of the game when it comes to cannabis legalization, and two states who opened their recreational markets around the same time are experiencing growing pains.

The U.S. Food and Drug Administration (FDA) has granted Fast Track designation for Merck's (NYSE:MRK) lead asset MK-2060 for the reduction in risk of major thrombotic cardiovascular events in patients with end-stage renal disease (ESRD). Merck shares traded in a range of $89.72 to $90.97 on day volume of 5.2…

Avant Brands Inc. (OTCQX: AVTBF) (TSX:AVNT) (FRA:1BU0) released its financial results for the quarter ended May 31, 2022, revealing record recreational cannabis sales of $3.1 million, compared to $2.5 in previous quarter, an increase of $600,000 or 23%.

The pharmaceutical firm says Health Canada will screen its Accrufer lead product, with an outcome expected next year

A judicial review request was submitted to the federal court by more than 100 doctors, psychologists, clinical counselors, social workers and nurses across Canada challenging the country’s health minister’s decision to reject the professionals' application to use restricted psychoactive drugs for training in psilocybin-assisted therapy

On June 29, Canadian federal and provincial governments reached a proposed $150-million settlement with Purdue Pharma Canada, makers of OxyContin, an opioid-based pain medication. The settlement is intended to recover the health-care costs related to the damaging effects from the sale and marketing of OxyContin.

Canadian life sciences company Nirvana Life Sciences Inc. (CSE: NIRV), focused on research & development of non-addictive pain management and relapse prevention products for pain and addictions, has been granted approval to build its R&D facility in Vancouver by Canada’s governmental department of Health.

Here's a roundup of top developments in the biotech space over the last 24 hours:

SIGA Technologies Inc (NASDAQ:SIGA) has announced approximately $13 million in procurement orders for oral TPOXX (tecovirimat) The order includes $11 million for initial procaurement from two new international jurisdictions and an approximate $2 million order from a country in the Asia Pacific region with an established contract for oral TPOXX. "We expect a…