US-based Abbott Labs has won a patent battle against Glenmark Pharmaceuticals related to generic launch of Abbott's version of anti-hypertension drug, Tarka ((trandolapril/verapamil hydrochloride). On Monday, the US Court of Appeals for the Federal Circuit upheld a lower court's order, saying Glenmark infringed Abbott's patent on the drug by launching a copycat in June 2010.
According to analysts, Glenmark will have to pay a penalty of $16 million, following the latest verdict.
In its statement Glenmark said "Glenmark loses its appeal to invalidate Abbott Laboratories' TARKA patent when the Court of Appeals for the Federal Circuit, US affirmed the district court's decision on April 22, 2014 regarding Glenmark's marketing of a generic equivalent of TARKA.
Glenmark shares went down 0.33 per cent to close at Rs 574.5 on BSE. Glenmark sold the drug since 2010 in the US till the district court ruled against the company in January 2011.
"Glenmark is disappointed with the decision and is considering its options," the company said.
