AptarGroup announced on December 17, 2025 that its Bidose (BDS) Liquid Nasal Spray System will deliver CARDAMYST® (etripamil), the first FDA‑approved nasal spray for paroxysmal supraventricular tachycardia (PSVT). The announcement follows the drug’s approval by the FDA on December 12, 2025, and marks the first time a self‑administered nasal spray will be available for this acute cardiac condition.
CARDAMYST is a rapid‑acting, self‑administered nasal spray that provides patients with an on‑demand treatment for sudden, rapid heartbeats. The drug’s approval represents a milestone for Milestone Pharmaceuticals, which has spent years navigating regulatory hurdles, and offers a convenient alternative to oral or intravenous therapies that require medical supervision.
The partnership with Milestone gives Aptar’s Bidose system—an FDA‑approved dual‑dose, patient‑friendly device housed in a protective two‑pack container—the role of the dedicated delivery mechanism. Aptar’s proprietary closure technology prevents accidental activation and ensures reliable drug access, addressing a critical safety need for emergency‑use therapies.
Aptar’s Q3 2025 results, released on October 30, 2025, showed revenue of $961 million and an adjusted EPS of $1.62, up from $909 million and $1.49 in Q3 2024. The pharma segment grew 18% year‑over‑year, driven by strong demand for injectables and the new CARDAMYST launch. The earnings beat analysts’ consensus of $1.57 by $0.05, largely due to disciplined cost control and a favorable product mix that offset modest inflationary pressures.
The PSVT market is estimated to affect roughly two million Americans annually, generating frequent emergency department visits and hospitalizations. CARDAMYST’s rapid onset and self‑administration could reduce healthcare utilization and improve patient quality of life. However, the market faces competition from low‑cost oral generics and invasive catheter ablation, which may challenge the drug’s pricing and market penetration.
"The approval of CARDAMYST marks a significant milestone for Milestone and opens a new therapeutic avenue for patients with PSVT," said Joseph Oliveto, CEO of Milestone Pharmaceuticals. "We are excited to partner with Aptar to bring this life‑changing treatment to patients worldwide."
Despite the strong Q3 performance, Aptar’s stock fell 16.96% in pre‑market trading after the earnings release, reflecting investor concerns about a projected 35% decline in emergency medicine revenue for 2026 and flat growth in the beauty segment. The market reaction underscores the importance of forward guidance and the sensitivity of investors to segment‑specific risks.
Aptar’s guidance for the remainder of 2025 remains positive, with the company projecting continued growth in its pharma segment and maintaining confidence in its high‑margin drug‑device portfolio. The company acknowledges headwinds in the emergency medicine space but highlights the strategic advantage of its Bidose platform in capturing a share of the PSVT market and potentially expanding into other indications such as atrial fibrillation with rapid ventricular rate.
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