Clegene has agreed to provide Dr. Reddy’s with a license to sell volume-limited amounts.
(Photo: Dr Reddy)
Share price of Dr. Reddy’s Laboratories surged nearly 10 per cent to a record high on Friday after the drugmaker said it settled patent litigation with Celgene, a wholly-owned subsidiary of US-based Bristol-Myers Squibb, over cancer treatment Revlimid.
At 1.41 pm Dr.Reddy’s shares were trading at Rs 5,293.40, up by Rs 466.80 or 9.67 per cent on the BSE.
Similarly, on the NSE, it was up by Rs 465.40 or 9.64 per cent at Rs 5,292.65.
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“In settlement of all outstanding claims in the litigation, Clegene has agreed to provide Dr. Reddy’s with a license to sell volume-limited amounts of generic lenalidomide capsules in the US beginning on confidential data after March 2022 subject to regulatory approval,” the Hyderabad-based drugmaker had said in a regulatory filing on Thursday.
The filing further said that the agreed-upon percentages are confidential. And the Indian firm is also licensed to sell generic lenalidomide capsules in the US without volume limitation beginning 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,” said Marc Kikuchi, CEO, North America Generics, Dr. Reddy’s Laboratories.
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