US court prevents Dr Reddy's Laboratories from selling opioid dependence treatment drug
NEW DELHI: Shares of Dr Reddy's Laboratories would be in focus on Monday morning after the New Jersey District Court granted a preliminary injunction against the domestic drugmaker on sale of a generic version of Indivior's prescription medicine Suboxone in the US market. The drug is used for treatment of opioid dependence.
The court has prevented Dr Reddy's from re-launching its generic product until the patent litigation by Indivior is concluded or until it prevails on an appeal of this injunction, a statement by CEO of Indivior, Shaun Thaxter read.
Dr Reddy's was selling generic product in the US market prior to the grant of a temporary restraining order (TRO) on June 15. The TRO remains in place, an Indivior note read.
The court has also ordered the parties to submit a final proposed injunction order on Monday. It has asked Indivior to post a bond to provide security to Dr Reddy's should the court conclude at the end of patent litigation that the patent is invalid or not infringed.
Indivior expects a $25 million dent on its revenues due to the product by Dr Reddy's before the TRO came into effect .
The court has prevented Dr Reddy's from re-launching its generic product until the patent litigation by Indivior is concluded or until it prevails on an appeal of this injunction, a statement by CEO of Indivior, Shaun Thaxter read.
Dr Reddy's was selling generic product in the US market prior to the grant of a temporary restraining order (TRO) on June 15. The TRO remains in place, an Indivior note read.
The court has also ordered the parties to submit a final proposed injunction order on Monday. It has asked Indivior to post a bond to provide security to Dr Reddy's should the court conclude at the end of patent litigation that the patent is invalid or not infringed.
Indivior expects a $25 million dent on its revenues due to the product by Dr Reddy's before the TRO came into effect .