Dr. Reddy's Laboratories announces settlement of U.S. Revlimid® Capsules patent litigation with Celgene

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries (together referred to as "Dr. Reddy's"), today announced the settlement of their litigation with Celgene, a wholly-owned subsidiary of Bristol Myers Squibb (NYSE: BMY), relating to patents for REVLIMID® (lenalidomide) Capsules.

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

"We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients," says Marc Kikuchi, CEO, North America Generics, Dr. Reddy's Laboratories.

Revlimid® is a trademark of Celgene, a wholly-owned subsidiary of Bristol Myers Squibb. Please refer to Revlimid® Package Insert for Black Box warning and important safety information.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4826.6 as compared to the previous close of Rs. 4631.55. The total number of shares traded during the day was 307270 in over 24238 trades.

The stock hit an intraday high of Rs. 4845 and intraday low of 4657.2. The net turnover during the day was Rs. 1462805209.

Source : Equity Bulls

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