Australia's Acrux falls to over 1-yr low on U.S. drug patent litigation

Acrux

08/06/2021 02:23

** Shares of drug developer  ACR.AX  fall as much as 10.7%
to A$0.125, their lowest since May 18, 2020
    ** Co says U.S.-based pharma co Almirall LLC has initiated a
patent litigation in a U.S. District Court of New Jersey 
 urn:newsml:reuters.com:*:nASX8GJL43
    ** Litigation over ACR's new drug application for Dapsone
Gel 7.5%, used to treat acne vulgaris in patients aged 9 years
and above 
    ** Stock posts biggest intraday pct loss since Jan. 20
    ** ~985,846 shares change hands, six times the 30-day avg
volume of 163,213 - Refinitiv data
    ** Stock has lost 15.2% this year, as of last close

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))