The U.S. Food and Drug Administration (FDA) has approved KETARx, a ketamine-based medication developed by PharmaTher, for use in surgical pain management.
Ketamine is currently the only psychedelic or psychedelic-adjacent compound included on the World Health Organization’s Essential Medicines List. The global ketamine market is forecasted to expand significantly, rising from $750 million to an estimated $3.42 billion by 2034.
PharmaTher said the FDA’s decision not only supports the use of KETARx in surgical care but also lays the groundwork for advancing ketamine research across multiple therapeutic areas. These include depression, neurological disorders such as Parkinson’s disease and amyotrophic lateral sclerosis (ALS), and conditions involving chronic or rare pain.
“Today marks a new chapter for PharmaTher,” said Fabio Chianelli, founder and CEO of PharmaTher. “With FDA approval for ketamine now in hand, we are closer to realizing our goal of becoming a global leader in ketamine-based pharmaceuticals.
This historic approval is a testament to years of dedicated development, signaling a new era of growth. We remain steadfast in our mission to harness the pharmaceutical potential of ketamine for a range of mental health, neurological, and pain disorders.”
The approval of KETARx represents a significant milestone for PharmaTher as it seeks to expand its portfolio of ketamine-based treatments.
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