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.
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.)