Navigation Links
Berger & Montague, P.C. Reminds Viropharma Shareholders That The Deadline To Petition The Court To Act As Lead Plaintiff Is July 23, 2012
Date:7/13/2012

PHILADELPHIA, July 13, 2012 /PRNewswire/ -- The law firm of Berger & Montague, P.C. was the first law firm to file a class action against Viropharma Incorporated and Vincent J. Milano in Eastern District of Pennsylvania on May 17, 2012, Docket Number 2:12-CV-02714 on behalf of all investors who purchased shares of Viropharma ("VPHM") between December 14, 2011 and April 9, 2012.

The complaint alleges that on December 14, 2011 Viropharma issued a press release announcing the modernization of labeling for Vancocin Capsules effective through the FDA's approval of a sNDA.  The press release stated, "As a result of today's sNDA approval, Viropharma believes Vancocin meets the requirements for, and thus has, three years of exclusivity, and that generic Vancomycin capsules will not be approved during this time period."

As a result of the materially false and misleading representation about market exclusivity in the December 14, 2011 press release, the market price of Viropharma stock jumped $4.21 per share, from a closing price of $23.59 per share on December 13, 2011 to a closing price of $27.80 on December 14, 2011, on heavy volume of almost five million shares.

On April 10, 2012 before the market opening, the company filed a 8-K with the SEC attaching a press release which stated among other things that the FDA informed Viropharma that the recent supplemental new drug application (sNDA) for Vancocin approved on December 14, 2011 would not qualify for three additional years of exclusivity based on the agency's assertion that in order for an sNDA for an old antibiotic such as Vancocin to be eligible for a grant of exclusivity, it must be a significant new use or indication.  The FDA also indicated that it was approving three ANDA's for generic Vancomycin capsules.

In addition, the company received notification that the Federal Trade Commission is conducting an investigation into whether the company has engaged in unfair methods of competition with respect to Vancocin.

As a result, at the close of trading on April 10, 2012, Viropharma shares had declined $6.17 per share or 22% to close at $22.44 per share on extraordinarily high trading volume.

For more information about this case, please contact

Sherrie R. Savett, Esq.
Douglas R. Risen, Esq.
BERGER & MONTAGUE, P.C.
1622 Locust Street
Philadelphia, PA 19103
888-891-2289
info@bm.net


'/>"/>
SOURCE Berger & Montague, P.C.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Physician-Patient Alliance for Health & Safety: Monitoring the High-Acuity Patient: Does Risk Stratification Increase or Decrease Patient Safety?
2. Acella Pharmaceuticals, LLC, files Abbreviated New Drug Application (ANDA) With the U.S. Food & Drug Administration for Topical Corticosteroids Lotion
3. DePuy & Transvaginal Mesh Lawsuit Settlement Funding Leads Legal-Bay to Banner 2nd Quarter
4. Medical Diagnostic & Therapeutic Ultrasound Devices Market (2012 - 2017) - Global Trends & Competitive Analysis
5. Sanford Wittels & Heisler Files $100 Million Gender Discrimination Class Action In Southern District Of New York
6. Frost & Sullivan: European Bipolar Therapeutics Market Slows Down in the Short Term As Key Blockbuster Drugs Go Off Patent
7. Radiotherapy Devices Market By Technology, Applications & Products (2011 - 2016)
8. Clinical Chemistry Market Report & Forecast (2012 - 2015): Global Analysis
9. Law Office of Brodsky & Smith, LLC Announces Investigation of Amylin Pharmaceuticals, Inc.
10. MedAvante Honored By Ernst & Young LLP and Red Herring
11. Frost & Sullivan Recognizes Siemens Healthcares CT Imaging Solution for the Value it Offers Both Service Providers and Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... , Net Sales of $1.90 billion represent an increase of ... and an increase of 1.2% on an adjusted pro forma, ... quarter were $0.52 reported, a decrease of 47.5% from the ... over the prior year period , The Company increases ... Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today ...
(Date:4/28/2016)... 28, 2016 TapImmune,Inc. (TPIV), ... peptide and gene-based immunotherapeutics and vaccines for the treatment of ... at the 3rd Annual Growth Capital Expo to ... 2016 at Caesars Palace in Las Vegas, Nevada.  The ... May 4 th by Dr. John N. Bonfiglio ...
(Date:4/27/2016)... 2016   , ... Recurring Consumable Sales  Clinical sales grow 16% ... (Euronext: MKEA, OTCQX: MKEAY) inventor of Cellvizio®, the multidisciplinary ... the first quarter ended March 31, 2016 and provided ... its commercial strategy. First Quarter 2016 Revenue ...
Breaking Medicine Technology:
(Date:5/2/2016)... ... May 02, 2016 , ... It has just been announced Jack Uldrich, ... events throughout the month of May. , Uldrich is the author of 11 books ... also frequently appears on the Science Channel’s FutureScape and Discovery Channel’s Inside Out. , ...
(Date:5/2/2016)... (PRWEB) , ... May 02, 2016 , ... Pets bring ... a token of appreciation, pet owners celebrate National Pet Week, which falls on the ... 2016, remind pet owners to cherish the human-animal bond and recognize responsible pet ownership. ...
(Date:5/2/2016)... ... , ... “Engineering Bubbles,” an oil painting submitted by Canadian radiology resident Dr. ... at the Annual Meeting in Los Angeles. The first annual art forum was a ... Meeting attendees. , “Through art I hope to educate people about radiology and ...
(Date:5/2/2016)... ... 02, 2016 , ... Over $60 Billion is spent annually on products for ... leading product review site for Toys, Tots, Pets & More (TTPM) announced the 15 ... Showcase at the Metropolitan Pavilion in New York City. , Chosen from a field ...
(Date:5/2/2016)... ... May 02, 2016 , ... Zitter Health ... Pharmacy Patient Satisfaction Award that will recognize specialty pharmacies for their achievements in ... Health Insights’ Specialty Pharmacy Patient Satisfaction Survey compiled throughout 2016. Results will be ...
Breaking Medicine News(10 mins):