Corcept stock drops after drugmaker loses patent lawsuit against Teva
TEVATEVA(TEVA) Market Watch·2024-01-02 16:18

Corcept Therapeutics Inc. shares CORT, -1.22% dropped 32% premarket on Tuesday after a federal court in New Jersey on Friday ruled against the drugmaker in its patent infringement lawsuit against Teva Pharmaceutical Industries Ltd. TEVA, -0.29%. Teva seeks to market a generic version of Corcept’s Korlym, a treatment for the endocrine disorder Cushing’s syndrome, but Corcept failed to demonstrate that there is a likely direct infringement of its patent claims for the drug, the court said in its opinion. “Thi ...