Dr Reddy's shares jump over 6% after favourable US court ruling

Shares of Dr Reddy's Laboratories Ltd Wednesday surged over 6 per cent after a court in the US gave a ruling in favor of it in a patent infringement case.

The stock jumped 5.90 per cent to settle at Rs 2,594.75 on BSE. Intra-day, it soared 8.21 per cent to Rs 2,651.50.

At NSE, shares of the company surged 6.43 per cent to close at Rs 2,600.45.

In terms of equity volume, 3.14 lakh shares of the company were traded on BSE and over 44 lakh shares changed hands at NSE during the day.

Dr Reddy's Laboratories Ltd Wednesday said a court in the US has given a ruling in favor of it in a patent infringement case filed by pharma giant Indivior on selling generic version of Suboxone a sublingual film in the American market.

According to a press release issued by the drug maker, the United States Court of Appeals for the Federal Circuit concluded that Indivior had not shown that it is likely to succeed on the merits of its infringement case.

It also said this decision vacates a District Court"s preliminary injunction that had prohibited Dr Reddy's from selling its generic version of Suboxone (buprenorphine and naloxone).