By Dean Seal
Shares of Assertio plummeted after the company withdrew its financial outlook for 2023 in the wake of federal regulators approving a generic version of one of its products.
The stock is down 41% at $3.16 in early trading. Shares have fallen by more than a quarter year-to-date.
The specialty pharmaceutical company said after the bell Thursday that it has pulled its guidance so it can assess the recent news of a generic indomethacin suppository being approved by the U.S. Food and Drug Administration.
Write to Dean Seal at dean.seal@wsj.com
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