INSUBCONTINENT EXCLUSIVE:
Dr Reddy's Laboratories reeled early Monday, plunging 9 per cent, after the New Jersey District Court granted a preliminary injunction
against sale of the generic version of Suboxone used for treating opioid dependence
The stock crashed 9.48 per cent to hit a low of Rs 2,097.70 on the BSE.
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
The TRO remains in place, an Indivior note read.
The court has also ordered the two parties to submit a final proposed injunction order on
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 sees a $25 million dent on its revenues due to the product of Dr Reddy's
