A shareholder on Wednesday filed a proposed class action against
ViroPharma Inc. seeking damages for stock losses allegedly
sustained after the company wrongly led investors to believe it had
secured three years of market exclusivity for its signature
In a suit filed in Pennsylvania federal court, the shareholder
accuses the company of misleading investors with statements in
December that its antibiotic brand, Vancocin, would qualify for
three years of market exclusivity thanks to a new condition of use
established for the drug by the results of a clinical study.
ViroPharma said the U.S. Food and Drug Administration had approved
its supplemental new drug application, which updated labeling and
dosing levels for the antibiotic, and claimed the approval would
give the company rights to three years of market exclusivity,
according to the complaint. The statement sent the company's stock
price up more than 17 percent, the complaint says.
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