BioSante Freed From 2 Investor Suits Over Libido Drug

Law360, New York (September 11, 2013, 6:55 PM ET) -- An Illinois federal judge tossed a pair of shareholder suits Wednesday over statements BioSante Pharmaceuticals Inc. made about clinical trials for an experimental women's libido drug, finding that neither suit clearly spelled out what the company had allegedly done wrong.

In a pair of decisions, U.S. District Judge Joan B. Gottschall dismissed a shareholder class action over disappointing clinical results for the company's LibiGel testosterone gel treatment for women with low sex drive and a derivative complaint over the same events.

In the shareholder class action,...
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