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Dr. Reddy’s Laboratories Ltd. ( (IN:DRREDDY) ) has issued an update.
Dr. Reddy’s Laboratories has clarified media reports that the Delhi High Court has allowed it to manufacture the diabetes and obesity drug ingredient semaglutide in India for export. The company said the ruling arises from an ongoing interim injunction dispute with Danish drug maker Novo Nordisk over semaglutide-containing products.
According to Dr. Reddy’s, the Delhi High Court’s division bench upheld an earlier order permitting the company to make semaglutide domestically and export it to countries where Novo Nordisk does not have patent protection. The company emphasized that the case remains sub judice and, at present, it does not consider the court developments to be a material event requiring additional stock exchange disclosure.
More about Dr. Reddy’s Laboratories Ltd.
Dr. Reddy’s Laboratories Ltd. is an India-based global pharmaceutical company engaged in the development, manufacture and sale of generic and branded medicines. Listed in India and on the NYSE, it focuses on supplying affordable treatments to international markets through both active pharmaceutical ingredients and finished dosage products.
Average Trading Volume: 90,404
Technical Sentiment Signal: Strong Buy
Current Market Cap: 1073.2B INR
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