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Pain for Pain Therapeutics, King Pharma after Reuters FDA story

Shares of Pain Therapeutics dropped as much as 11 percent on Nov. 10 after Reuters reported that U.S. regulators had questions about data on the company’s experimental painkiller, Remoxy. King Pharmaceuticals, which is co-developing the drug, fell nearly 2 percent. Both fell after Reuters sent headlines saying reviewers could not determine the drug’s tamper-resistant properties, a key benefit touted by the companies. Bloomberg reported the news about 45 minutes later, while Dow Jones followed Reuters by nearly two hours.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
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