Jubilant Pharmova gains after subsidiary wins over Bracco's legal appeals in US court

Jubilant Pharmova rose 1.70% to Rs 849.70 after the company said its subsidiary, Jubilant Pharma, received a favorable and unanimous judgment from the US Court of Appeals.

Jubilant Pharma, a subsidiary of Jubilant Pharmova, announced that it has received a favorable and unanimous judgment from the United States Court of Appeals summarily affirming Jubilant's earlier favorable rulings from the US Patent Office ("PTAB") and the US International Trade Commission ("ITC"). These two rulings by the Appellate Court deny the appeals filed by Bracco Diagnostics, Inc.

Jubilant successfully challenged Bracco's patent infringement claims in an Inter Parties Review (IPR) proceeding before the U.S. Patent Office as well as in a separate proceeding in the ITC. In both instances, Jubilant was successful.

Despite the rulings of both the PTAB and the ITC, Bracco filed appeals to the US Court of Appeals in Washington D.C. These appeals are now dismissed.

"The rulings demonstrate the uniqueness of our RUBY-FILL Generator and Elution system and its intellectual property and the strength of our research and development efforts," commented Sergio Calvo, President of Jubilant's Radiopharmaceuticals Division.

"The favorable ruling by the United States Court of Appeals further confirms Jubilant's right to continue development and commercialization of RUBY-FILL in the U.S. marketplace and to continue focusing on our goal of bringing innovative products to the market for patients in need of the latest technology," stated Pramod Yadav, CEO, Jubilant Pharma.

Jubilant Pharmova (erstwhile Jubilant Life Sciences) reported 52.4% jump in consolidated net profit to Rs 309.83 crore on a 16.6% rise in net sales to Rs 1,743.63 crore in Q3 FY21 over Q3 FY20.

Jubilant Pharmova is engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses.

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