Depomed plummets on reduced sales guidance

Four weeks after reiterating its 2017 revenue guidance, Depomed Inc. (NASDAQ:DEPO) disappointed investors by lowering its top-line outlook when it reported 2Q17 earnings on Monday after market close. The company lost a third of its value on Tuesday, falling $3.08 (33%) to $6.14.

Management said increased regulatory and managed care pressure on the short- and long-acting opioid markets has dented the company's revenue expectations...