By Colin Kellaher Shares of Corcept Therapeutics tumbled more than 30% in premarket trading Tuesday after the pharmaceutical company suffered a setback in its patent-infringement litigation.
Corcept's shares fell nearly 38% in trading after the bell. The lawsuit was tied to Korlym, Corcept's drug to treat Cushing's syndrome, which creates an excess of the hormone cortisol and causes high blood sugar, among other things. Teva has been looking to sell a generic version of Corcept's Korlym drug.
There are some cases where the Federal Circuit makes its decision based on the eternal verities of patent law (insofar as there are any eternal verities in patent law). One such.