ARTICLE | Finance
Highlights of weekly biotech stock moves
Regulatory, clinical and other milestones
July 1, 2013 7:00 AM UTC
Allergan Inc. (NYSE:AGN) fell $10.71 (12%) to $81.99 on Monday after FDA issued draft guidance on developing generic versions of Allergan's Restasis 0.05% cyclosporine ophthalmic emulsion that could lead to earlier than expected competition for the product. The U.S. patent covering Restasis expires in 2014. Allergan markets the product to treat moderate to moderately severe dry eye disease in about 40 countries (see B10).
Allergan was down $8.46 to $84.24 on the week...