Penwest Pharmaceuticals (PPCO) Set For Huge Fall

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According to The Associated Press Endo Pharmaceuticals (ENDP). and Penwest Pharmaceuticals (PPCO). said Wednesday the patent on their pain drug Opana ER is being challenged by Impax Laboratories Inc.

Endo and Penwest are currently reviewing the details of this notice from IMPAX. Endo and Penwest note that they intend to pursue all available legal and regulatory avenues in defense of OPANA® ER, including enforcement of their intellectual property rights and approved labeling.

PPCO is off 31% in the pre-market at a 52-week low of $7.85.

Douglas A. McIntyre