Shilpa Pharma, Inc. Sues Novartis Pharmaceutical Corporation for Patent Infringement

Shilpa Pharma, Inc. a U.S operating company of Shilpa Medicare Limited ("Shilpa") filed patent infringement lawsuit against Novartis Pharmaceutical Corporation in the United States District court for the district of Delaware seeking relief for the infringement of the US Patent No. 9,266,816 entitled "Fingolimod Polymorph and Their Processes".

Shilpa is a global brand in manufacturing and supplying of affordable Active Pharmaceutical Ingredients (APIs), generic and innovative Formulations globally in different markets. As a global brand in Active Pharmaceutical Ingredients, generic and Innovative Formulations, Shilpa re-invests a significant portion of its revenue in R&D each year.

Shilpa invest heavily in R&D as we want to provide the patients with the best affordable pharmaceutical solutions, which resulted in more than 466 patent applications worldwide including 70 patent applications of which 30 patents has been granted in United States alone.

Innovation and protection of intellectual property are cornerstone to Shilpa's success. Shilpa respects and protects its intellectual property rights against any third-party infringers. Shilpa has invested significant time and effort to develop its own IP related to the drug Fingolimod. Shilpa is now making efforts to enforce its IP in the U.S.

Shares of SHILPA MEDICARE LTD. was last trading in BSE at Rs.429.9 as compared to the previous close of Rs. 437.5. The total number of shares traded during the day was 22255 in over 906 trades.

The stock hit an intraday high of Rs. 447.15 and intraday low of 425.5. The net turnover during the day was Rs. 9616560.

Source : Equity Bulls

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