Dow Jones First to Report on Labopharm's Drug Side Effects; Subscribers Get Ahead of Markets As News Sends Company's Stock Down 5%
NEW YORK, March 19 After Canadian specialty pharmaceutical company Labopharm received FDA approval for its once-daily version of antidepressant Trazodone, Dow Jones Newswires reported that it will be difficult to convince prescribers to switch from less expensive generic versions. Dow Jones found that when compared, the side effects of Labopharm's drug fare no better than the generic versions that dominate the market. In the 13 minutes from when the story was published to the market close, the company's stock fell 5%. An analyst attributed the stock move to the Dow Jones report.
Rival news organization Reuters was nearly a day late in covering the story. Bloomberg did not cover the news.
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SOURCE Dow Jones & Company
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