Dr Reddy's Lab slides after reports of Indivior filing patent lawsuits

Dr Reddy's Laboratories dropped 1.83% to Rs 2,207.75 at 14:00 IST on BSE after report suggested that Indivior Plc., the UK drug firm has filed patent lawsuits against the company, Teva and Mylan.

Meanwhile, the S&P BSE Sensex was down 27.80 points, or 0.09% to 32,214.13.

On the BSE, 21,388 shares were traded in the counter so far, compared with average daily volumes of 61,389 shares in the past one quarter. The stock had hit a high of Rs 2,244 and a low of Rs 2,190 so far during the day. The stock had hit a 52-week high of Rs 3,394.95 on 28 October 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.

The large-cap company has equity capital of Rs 82.93 crore. Face value per share is Rs 5.

The UK drug firm has filed complaint asserting new Suboxone film Patent versus abbreviated new drug application (ANDA) filers. Earlier this month, Indivior had stated that it would appeal against a US court ruling that generic drug maker Dr Reddy's Laboratories had not infringed its patents, potentially opening the way to the company to the Indivior's Suboxone Film opioid addiction treatment.

On a consolidated basis, Dr Reddy's Laboratories' net profit declined 56.6% to Rs 66.60 crore on 2.5% rise in net sales to Rs 3315.90 crore in Q1 June 2017 over Q1 June 2016.

Dr Reddy's Laboratories is an integrated global pharmaceutical company.

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