ACTON, Mass., June 2, 2015 /PRNewswire/ -- Psychemedics Corporation (NASDAQ:PMD), hair testing pioneer and global leader for over twenty-five years, announced the addition of 2 new drugs to the company's drug testing panels. In response to growing abuse concerns, the addition of Oxymorphone was made to the synthetic opiate testing panel and D-Amphetamine/Adderall® was added as an option to the Amphetamine panel.
Raymond C. Kubacki, Chairman and CEO stated: "Sadly, more and more prescription drugs are being abused. As the scientific leader in drug testing, we at Psychemedics continue to advance the science and use our top flight scientific team and R&D resources to develop new tests that will deter people from abusing these additional drugs."
Oxymorphone (commonly known by the brand name Opana®) is an opioid prescription pain reliever that has a high potential for abuse, is approximately two times stronger than OxyContin®, and is reported by abusers to be a replacement for Oxycodone. Oxymorphone was placed on the Drug Alert Watch by the U.S. Department of Justice in 2011, as a growing nationwide threat because of the increase in abuse and overdoses. Psychemedics now includes this drug as part of its standard detection panel, at no additional charge to clients.
D-Amphetamine (most commonly known as Adderall®) is a prescription stimulant used for the medical treatment of ADHD, and is classified as a Schedule II drug because of its highly addictive properties. Often sold and purchased illegally by recreational users for use as a performance enhancer, abusers are at risk for developing life-threatening addiction and/or psychological dependency. Psychemedics is currently the only hair testing laboratory that has the ability to test for this substance in its screening test. Adderall® now can be added as an option.
Jim Dyke, Vice President, Corporate Sales and Marketing, added: "The addition of Oxymorphone and Adderall® to our already expanded opiate panel will help us and our clients address head-on one of the major trends today – the continued and expanded abuse of prescription drugs."
About Psychemedics Corporation
Psychemedics Corporation is the world's largest provider of hair testing for the detection of drugs of abuse. The Company's patented process is used by thousands of U.S. and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on our unique patented drug testing process. We strongly believe our drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods.
For more information, visit the Psychemedics Corporation website at www.psychemedics.com.
Cautionary Statement for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning technological changes, technological advantages, regulatory matters, implementation of new testing procedures and processes, research and development, future business and marketing strategies may be "forward looking" statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with implementation of new testing procedures and methodologies including training, personnel changes, changes in supplier relationships, customer contract provisions and customer relationships, government regulation, including but not limited to FDA regulations, competition and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission.
Contact: Raymond C. Kubacki
Chairman, President and CEO
(978) 206-8220
Logo - http://photos.prnewswire.com/prnh/20111107/NE00639LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/psychemedics-announces-addition-of-fda-cleared-drugs-300091991.html
SOURCE Psychemedics Corporation