Dr Reddy's hits fresh 52-week low after patent infringement confirmation
Feb 17 2017 by Johnny Bowman
Dr Reddy's said it did not infringe three of the claims, adding that the remaining ten were invalid but that it would have infringed them should they be found valid.
City-based drug giant Dr Reddy's Laboratories (DRL) on Thursday informed the bourses that it has received an unfavourable ruling in a patent infringement case related to Palonosetron Hydrochloride 0.25mg/5ml, Swiss player Helsinn Healthcare's nausea prevention drug Aloxi.
Dr Reddy's Laboratories yesterday said it has received an unfavourable ruling in a United States court regarding a patent infringement case over Aloxi.
Aloxi injection is used in adults to help prevent nausea and vomiting due to chemotherapy.
The district court said in its ruling: "We find that the asserted claims in the '724, '094, and '980 patents are infringed".
The company said it intends to pursue an appeal in due course of time. The settlement will allow it to market the generic version of Aloxi in the USA on September 30, 2018, or earlier, under certain circumstances. The approval came after DRL entered into a settlement agreement with Swiss pharma player Helsinn Healthcare SA in October 2015 to resolve patent litigations relating to Aloxi in the US. The company would have had to do its own branding and marketing to sell the drug, Surajit Pal, an analyst with Mumbai-based brokerage Prabhudas Lilladher told CNBC-TV18. The other generics will enter the market in September 2018, which would have provided Dr Reddy's with one-and-a-half years of headstart to capture a good share of the market. On NSE, it fell by 3.86% to Rs2,798.95-its 52-week low. Benchmark BSE Sensex was trading 37.63 points, or 0.13 per cent up at 28,193.19.