Mar 22 2010
After Canadian specialty pharmaceutical company Labopharm received FDA approval for its once-daily version of antidepressant Trazodone, Dow Jones Newswires reported that it will be difficult to convince prescribers to switch from less expensive generic versions. Dow Jones found that when compared, the side effects of Labopharm's drug fare no better than the generic versions that dominate the market. In the 13 minutes from when the story was published to the market close, the company's stock fell 5%. An analyst attributed the stock move to the Dow Jones report.
Rival news organization Reuters was nearly a day late in covering the story. Bloomberg did not cover the news.
More than 438,000 financial professionals in 66 countries turn to Dow Jones for breaking news, commentary and analysis, including market-moving corporate, economic, market, financial and political news. Reporting from nearly 90 bureaus across the globe, Dow Jones publishes up to 18,000 news items each day, in 11 languages, covering all asset classes. Dow Jones products help customers build relationships, create market opportunities and enhance trust in their services.
SOURCE Dow Jones & Company
Natural obesity fighters: How coffee, tea, and cocoa combat weight gain