Pharma Co. Wants Testosterone Drug Investor Suit Tossed

Law360 (July 27, 2020, 10:39 PM EDT) -- Pharmaceutical company Lipocine Inc. called investors' proposed class action claims "fiction," telling a Utah federal judge that allegations it hid information about a trial of a new drug are bogus since it disclosed the information a year earlier.

In a motion on Friday, Lipocine said claims it misled investors about the approval prospects of TLANDO — an oral testosterone replacement therapy — by omitting information about a clinical trial's results should be dismissed.

"The complaint fails to clearly explain why each challenged statement is purportedly false or misleading," the motion said.

The amended putative class action filed in May alleges Lipocine,...

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