Lasa Supergenerics Ltd gets interim relief on Albendazole case

Lasa Supergenerics Limited (Lasa), India's leading API manufacturer, had filed a civil suit for infringement of its patent, confidential information, unfair trading etc. before the Commercial Division of the Hon'ble Bombay High Court. An ex parte interim relief restraining its competitor from selling, offering for sale, importing, exporting, or dealing in Albendazole using the proprietary confidential information exclusively owned by Lasa in respect of its product Albendazole has been granted to Lasa on 12th October 2020.

The relief granted to Lasa from Hon'ble High Court will protect and further strengthen its research and confidential information and its position in "Benzimidazole derivatives" market. It will also prevent the misuse of its extremely valuable proprietary right and act as Strong deterrent to other infringers.

The company has been granted ex parte interim relief vide order dated 12th October 2020 from Commercial Division of the Hon'ble High Court, Bombay. A competitor and a former employee of Lasa has been restrained in the following terms:

"(b) Pending the hearing and final disposal of the present suit the Respondent Nos. 1 and 2, by itself or through its directors, group companies, associates, divisions, assigns in business, servants, job workers, proprietors, partners, licensees, franchisees, agents, distributors, dealers, stockists and all persons claiming through the Respondents, directly or indirectly, be restrained by a temporary order and injunction of this Hon'ble Court from selling, offering for sale, importing, exporting or dealing in Albendazole i.e. Methyl 5-(propylthio)-lh-benzo [d] imidazol-2-ylcarbamate manufactured by use of the Confidential Information, details and particulars of which are given in Paragraph 31 of the plaint; (c) Pending the hearing and final disposal of the present suit the Respondent Nos. 1 and 2, by itself or through its directors, group companies, associates, divisions, assigns in business, servants, job workers, proprietors, partners, licensees, franchisees, agents, distributors, dealers, stockists and all persons claiming through the Respondents, directly or indirectly, be restrained by a temporary order and injunction of this Hon'ble Court from using, making copies of, disclosing / divulging / parting with possession / distributing / circulating to any third parties by any means, mode or method, directly or indirectly, in any manner, the said Confidential Information, details and particulars of which are given in Paragraph 31 of the plaint;

(e) that pending the hearing and final disposal of this suit, the Court Receiver, High Court, Bombay, or such other fit and proper person/s as this Hon'ble Court thinks fit, be appointed as receiver in respect of Albendazole manufactured by Defendant No. 1 and now available with and being supplied, delivered by Defendant No. 10 at its office situated at Loyalka Apartment, Loyalka Compound, Room No. 1, 2nd Floor, Siri Road, Mumbai - 400006, Maharashtra, India OR at No. 455-5, Gala No. 04, 1st Floor, Oswal Compound, Purna Village, Bhiwandi, Thane - 421302, Maharashtra, India OR at his transporter's address V-Trans (India) Pvt. Ltd., 99/101, Keshavji Naik Road, New Chinchbunder, Mumbai-400 009 and the same be seize and taken into custody/possession thereof, with police protection, if necessary;"

The receipt of this ex parte interim relief is a major development for Lasa, as it will enable the company to:

1) Regain the disturbed market share
2) Achieve better realizations for its products and improved profitability
3) Act as a strong deterrent to other companies from using Lasa's proprietary information.

Lasa has subsisting process patent in its name for the invention titled "AN IMPROVED PROCESS FOR THE PREPARATION OF METHYL 5- (PROPYLTHIO)-1H-BENZO [D] IMIDAZOL-2-YLCARBAMATE" and it's products based on the patented process and by use of its confidential information comprised over 85% of the company's FY2020 revenues.

Shares of Lasa Supergenerics Ltd was last trading in BSE at Rs.71.85 as compared to the previous close of Rs. 65.35. The total number of shares traded during the day was 107275 in over 1048 trades.

The stock hit an intraday high of Rs. 71.85 and intraday low of 65.5. The net turnover during the day was Rs. 7621764.

Source : Equity Bulls

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