Concerpt Therapeutics Shares Are Trading Lower: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Corcept Therapeutics Inc. (NASDAQ:CORT) shares are trading lower following a lawsuit filed by Teva Pharmaceuticals Inc. (NYSE:TEVA) accusing Corcept of monopolistic practices related to its drug Korlym. The lawsuit alleges anti-competitive practices, including bribes and kickbacks to physicians, which have prevented Teva's generic version from gaining market share.
June 14, 2024 | 6:54 pm
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NEGATIVE IMPACT
Corcept Therapeutics shares fell by 9% following a lawsuit from Teva Pharmaceuticals accusing the company of monopolistic practices related to its drug Korlym.
The lawsuit from Teva Pharmaceuticals is a significant legal challenge for Corcept, accusing it of anti-competitive practices. This has led to a 9% drop in Corcept's share price, indicating a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Teva Pharmaceuticals has filed a lawsuit against Corcept Therapeutics, accusing it of monopolistic practices that have prevented Teva's generic version of Korlym from gaining market share.
Teva's lawsuit against Corcept could potentially open up market share for its generic version of Korlym if successful, which may positively impact Teva's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80