(Adds details, analyst's comment)
BANGALORE, March 7 Dusa Pharmaceuticals Inc.
(DUSA.O) said a U.S. district court lifted a preliminary
injunction which prohibited River's Edge Pharmaceuticals LLC
from selling the generic version of Dusa's acne drug Nicomide.
Shares of the company, which fell to their year-low of
$3.15 earlier, were trading at $3.34 in afternoon trade on the
Nicomide was "very important" for the company and it
accounted for 35 percent to 40 percent of Dusa's sales in the
latest third quarter, Roth Capital Partners analyst Mark Taylor
said by phone.
Taylor said Dusa acquired Sirius Laboratories mainly for
In March 2006, River's Edge filed a lawsuit, just days
after Dusa closed its acquisition of Sirius, alleging that
Sirius agreed to authorize it to market a generic version of
"River's Edge launched a generic against Nicomide two
weeks after the acquisition closed and wound up taking 30
percent of the Nicomide business before Dusa was able to get a
preliminary injunction against them," Taylor said.
"Now that the preliminary injuntion has been lifted we
presume River's edge will launch again and Nicomide is going to
suffer a loss of share," he added.
(Reporting by Rakesh Sharma in Bangalore)