Dr Reddy’s shares jump over 6% after favourable US court ruling in patent infringement case
New Delhi: Shares of Dr Reddy’s Laboratories Ltd on Wednesday surged over 6 percent after a court in the US gave a ruling in favour of it in a patent infringement case.
The stock jumped 5.90 percent to settle at Rs 2,594.75 on BSE. Intra-day, it soared 8.21 percent to Rs 2,651.50.
At NSE, shares of the company surged 6.43 percent to close at Rs 2,600.45.
In terms of equity volume, 3.14 lakh shares of the company were traded on BSE and over 44 lakh shares changed hands at NSE during the day.
Dr Reddy’s Laboratories Ltd on Wednesday said a court in the US has given a ruling in favour of it in a patent infringement case filed by pharma giant Indivior on selling a generic version of Suboxone a sublingual film in the American market.
According to a press release issued by the drug maker, the United States Court of Appeals for the Federal Circuit concluded that Indivior had not shown that it is likely to succeed on the merits of its infringement case.
It also said this decision vacates a District Court”s preliminary injunction that had prohibited Dr Reddy’s from selling its generic version of Suboxone (buprenorphine and naloxone).