Zydus announces settlement of Patent Litigation for Generic Revlimid® in U.S.

Cadila Healthcare Limited and its subsidiary Zydus Pharmaceuticals (USA) Inc. (Zydus Cadila) has announced that they have reached an agreement with Celgene Corporation (Celgene), a wholly owned subsidiary of Bristol Myers Squibb (NYSE: BMY) relating to patents for REVLIMID® (lenalidomide). As part of the settlement, the Parties will file Consent Judgments with the United States District Court for the District of New Jersey that enjoin Zydus Cadila from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement.

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.426.3 as compared to the previous close of Rs. 431.05. The total number of shares traded during the day was 82177 in over 1308 trades.

The stock hit an intraday high of Rs. 436.05 and intraday low of 426.3. The net turnover during the day was Rs. 35526319.

Source : Equity Bulls

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