Somaxon (SOMX) Pops Higher; Enters Silenor Settlement, Sees Improved Q2 Sales
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Somaxon Pharma (Nasdaq: SOMX) shares are popping in after-hours trading Tuesday after announcing it entered a settlement with Par Pharma and Mylan over Silenor 3- and 6-mg tablets.
In the release, Somaxon said it sees net product sales for Silenor for the second quarter ended June 30, 2012 to be approximately $2.8 to $2.9 million. The numbers are up from reported sales of $2.7 million in the first quarter.
Shares are up over 8 percent on the news. For more on the settlement, click here.
In the release, Somaxon said it sees net product sales for Silenor for the second quarter ended June 30, 2012 to be approximately $2.8 to $2.9 million. The numbers are up from reported sales of $2.7 million in the first quarter.
Shares are up over 8 percent on the news. For more on the settlement, click here.
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