Dr Reddy's shares down 4% after adverse ruling in US

Shares of Dr Reddy's Laboratories

today fell by nearly 4 per cent after the company said it has

received an unfavourable ruling in the US court regarding a

patent infringement case over anti-nausea injection Aloxi.

Reacting to this, shares of the company went down by 3.66

per cent to hit its one year low of Rs 2,803.50 on BSE.

On NSE, it fell by 3.86 per cent to Rs 2,798.95 -- its

52-week low.

In a BSE filing, Reddy's Laboratories said: "The United

States District Court for the District of New Jersey issued

its opinion regarding Helsinn Healthcare's patent infringement

claims against Dr Reddy's proposed palonosetron product".

"The court found that Dr Reddy's proposed palonosetron

hydrochloride 0.25 mg/5 ml infringes on certain claims of the

US patents...and that the asserted claims were not valid".

Helsinn Healthcare SA is a Switzerland-based pharma

company.

"We are disappointed in the decision and intend to pursue

an appeal in due course," a company spokesperson said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)