Dr Reddy’s shares down 4% after adverse ruling in US1 min read . Updated: 16 Feb 2017, 01:36 PM IST
Dr Reddy's gets adverse ruling in US over patent infringement case
New Delhi: Shares of Dr Reddy’s Laboratories on Thursday fell by nearly 4% 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% to hit its one year low of Rs2,803.50 on BSE. On NSE, it fell by 3.86% to Rs2,798.95—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.
Aloxi injection is used in adults to help prevent the nausea and vomiting due to chemotherapy.