Santarus Patent Kills Stock (SNTS)

Posted in pre-market 
April 15th, 2010

Santarus Inc. (NASDAQ: SNTS) is being smashed down this morning after an adverse case ruling. A U.S. District Court for the District of Delaware ruled that five patents covering Santarus’ ZEGERID prescription products are invalid due to obviousness, meaning it is open season on the drug. These patents were the subject of lawsuits brought by Santarus against Par Pharmaceutical, Inc.

Shares are down 34% at $3.54 on almost 1 million shares as of 8:40 AM EST and this was down 45% at $2.97 after the close yesterday in early evening prices. The 52-week trading range is $1.60 to $5.82 and average volume is only 426,000 shares.


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