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Dr Reddy’s shares soar 10%, mcap up
Shares of Dr Reddy’s Laboratories (DRL) on Friday rose over nine percent as a US District court has issued a judgement in its favour, ruling that proposed generic version of Suboxone sublingual film doesn’t infringe the patent of Indivior.
Hyderabad: Shares of Dr Reddy’s Laboratories (DRL) on Friday rose over nine percent as a US District court has issued a judgement in its favour, ruling that proposed generic version of Suboxone sublingual film doesn’t infringe the patent of Indivior.
The Dr Reddy’s stock was the biggest gainer among 30 Sensex scrips as it rose 9.75 percent or Rs196.95 to end at Rs2,217.35 on BSE. Shares of Dr Reddy’s on NSE gained 9.46 percent or Rs181.10 and closed at Rs2,212.
The drug major’s market valuation rose by Rs 3,255.86 crore to Rs 36,753.86 crore. In terms of volume, 2.44 lakh shares of the company were traded on BSE and over 36 lakh shares changed hands at NSE. Dr Reddy’s Lab in a communique to BSE, said: “The US District Court of Delaware has issued a judgement that proposed generic version of Suboxone sublingual film does not infringe US patents as asserted by Indivior.”
Commenting on the development, a spokesperson at Dr Reddy’s Lab said: “We're pleased with the verdict passed by the US District Court of Delaware in Dr Reddy's favour, on the patent litigation of the drug Suboxone. The judgment reiterates our commitment to providing affordable and innovative medicines that address the unmet and under-met needs of patients around the world.”
