Watson (WPI) Shares Sink as FDA Says Columbia's (CBRX) Gel Not Effective; KV (KV-A) Shares Surge
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Following news the FDA has said Columbia Labs' (Nasdaq: CBRX) preterm birth gel is not effective, shares of Watson Pharma (NYSE: WPI) and KV Pharma (NYSE: KV-A) are swinging in sympathy with Columbia.
Watson Pharma shares fell to an intraday low of $60 (down almost 3.6 percent from Friday's close), while shares of KV have added about 5 percent to Tuesday's gains. The stock is now up 20 percent to $2.13.
Watson Pharma shares fell to an intraday low of $60 (down almost 3.6 percent from Friday's close), while shares of KV have added about 5 percent to Tuesday's gains. The stock is now up 20 percent to $2.13.
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