NEW YORK, May 29, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at ViroPharma Incorporated ("ViroPharma" or the "Company") (NASDAQ: VPHM).
The investigation focuses on the Company's product Vancocin, which uses the Vancomycin antibiotic. On December 14, 2011, the Company issued a press release stating that it believed that Vancocin would have three years of marketing exclusivity due to changes in its label, and that generic Vancomycin capsules would not be approved during that period. Following this news, ViroPharma's stock price rose 17.9% to close at $27.80 per share on December 14, 2011.
However, on April 10, 2012, ViroPharma announced that the FDA had informed the Company that Vancocin's new label would not qualify the product for three additional years of exclusivity, and that the FDA had indicated it is approving three applications for generic Vancomycin capsules. Following this news, the price of ViroPharma common stock dropped 22% to close at $22.44 per share on April 10, 2012.
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If you purchased ViroPharma securities between December 14, 2011 and April 9, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/VPHM. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ViroPharma's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
|SOURCE Faruqi & Faruqi, LLP|
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