Law office of Brodsky & Smith, LLC announces that it is investigating potential violations of the Securities Exchange Act of 1934 by Viropharma Incorporated (“Viropharma” or the “Company”) (Nasdaq- VPHM). A class action lawsuit commenced in the United States District Court for the Eastern District of Pennsylvania 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 indicated that Viropharma believes Vancocin met the requirements for, and had three years of exclusivity, during which a generic Vancomycin capsules would not be approved. However, on April 10, 2012, the company disclosed that Vancocin would not qualify for the three additional years of exclusivity and the FDA 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. If you purchased shares of Viropharma stock between December 14, 2011 and April 9, 2012 and wish to discuss the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, visiting http://brodsky-smith.com/451-vphm-viropharma-incorporated.html, or by calling toll free 877-LEGAL-90. If you choose to retain counsel, you may retain Brodsky & Smith, LLC without financial obligation to you, or you may retain other counsel of your choice.
Irish pharmaceuticals company Shire said on Friday it had arranged to hand its Dermagraft skin substitute to Organogenesis and take a $650 million loss on the disposal, which unwinds a major part of an acquisition it made less than three years ago.