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Dr Reddy's Labs Hits Record High On Settlement Of Patent Litigation

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Shares of Dr Reddy's Laboratories soared 10 percent to hit a record high of Rs 5,302.85 after the pharma company informed the settlement of their litigation with Celgene, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for REVLIM (lenalidomide) capsules.

Dr Reddy's Labs Hits Record High On Settlement Of Patent Litigation
 

"In settlement of all outstanding claims in the litigation, Celgene has agreed to provide Dr Reddy's with license to sell volume-limited amounts of generic lenalidomodie capsules in the U.S. beginning on a confidential date after March 2022 subject to regulatory approval," the company said in a stock exchange filing.

It added that the agreed-upon percentages are confidential.

"Dr. Reddy's is also licensed to sell generic lenalidomide capsules in the U.S. without volume limitation beginning on January 31, 2026," it said.

Story first published: Friday, September 18, 2020, 10:56 [IST]
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