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:1/19/2017)...  Abaxis, Inc. (NasdaqGS: ABAX ), a ... consumables for the medical and veterinary markets worldwide, has ... for the third quarter fiscal year 2017, ended December ... ET on Thursday, January 26, 2017.  The Company will ... 2017 after the market closes on Thursday, January 26, ...
(Date:1/19/2017)... 2017  Sensus Healthcare, Inc. (NASDAQ: ... the treatment of non-melanoma skin cancers and other ... therapy, today announced that it will report its ... on Thursday, February 2, 2017 after the market close. ... call with the investment community on Thursday, February 2, ...
(Date:1/19/2017)... 19, 2017 Shire plc (LSE: ... U.S. Food and Drug Administration (FDA) has acknowledged receipt ... Application (NDA) for SHP465, a long-acting, triple-bead, mixed amphetamine ... once-daily treatment for Attention-Deficit/Hyperactivity Disorder (ADHD). The FDA is ... 20, 2017, the designated Prescription Drug User Fee Act ...
Breaking Medicine Technology:
(Date:1/21/2017)... ... ... Seamild, the largest manufacturer of oats in China, is now aiming at ... Oat is recognized globally as one of the healthiest cereals, XieQingkui, the founder of ... a move to sow the seed of good karma. Buddhism spirit featuring benevolence and ...
(Date:1/21/2017)... ... January 21, 2017 , ... In the United States, ... experience the freedom of recovery, they often feel shame for having struggled with an ... disorder (PTSD). In the workshop, “Rising Strong in Life After an Eating Disorder” -- ...
(Date:1/20/2017)... ... January 20, 2017 , ... Source Vitál Apothecary, a skin and body care ... announced the company had a successful visit to the 2017 ECRM Diet, Vitamin & ... that work in the nutritional, sports and health industries a chance to meet in ...
(Date:1/20/2017)... , ... January 20, 2017 , ... International Protein, a ... and bodybuilding supplements, announced it attended the January ECRM trade show in Hilton Head, ... nutritional scientist who was determined to create a line of products that would elevate ...
(Date:1/20/2017)... ... , ... “The Angel”: a heartwarming and earnest tale of faith and ... children. “The Angel” is the creation of published author, Marjorie Lund-Fontaine, a former professional ... writer. , When asked of her new book, Marjorie says, “‘The Angel’ was written ...
Breaking Medicine News(10 mins):