IntelliPharmaCeutics Spikes Over 12% Higher on Settlement for Generic Version of Effexor
IntelliPharmaCeutics (NASDAQ: IPCI) spikes over 12% higher on the settlement for a generic version of Effexor.
The company was granted a non-exclusive license to the patents in suit that will permit Intellipharmaceutics to launch a generic of Effexor XR in the United States following U.S. Food and Drug Administration approval of this product.
IntelliPharmaCeutics is currently trading at $3.85 per share.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.