Dr Reddy's hits 52-week low on patent infringement

Dr Reddy’s Laboratories hit a 52-week low of Rs 2,799, down 4% on the National Stock Exchange (NSE) in intra-day trade after the drug maker said United States District Court for the district of New Jersey issued its opinion regarding Helsinn Healthcare patent infringement claims against the company’s proposed Palonosetron product.

“The court found that Dr. Reddy’s Laboratories’ proposed Palonosetron Hydrochloride 0.25 mg / 5 ml product infringes certain claims of US patent numbers 7,94,7724; 8,729,094; and 9,066,980 and that the asserted claims of the ‘094 and ‘980 patents were not invalid,” Dr Reddy’s Lab said in a press