Glenmark Pharmaceuticals slips after Delhi HC restricts sale of anti-diabetes drug

The Delhi HC has restrained the company from manufacture and sale of Merck Sharp and Dohme's anti-diabetes drugs Zita, Zita-Met

Shares of Glenmark Pharmaceuticals were down nearly 3% at Rs 1,004 amid reports that the Delhi High Court on Wednesday restricted the company from manufacture and sale of anti-diabetes drugs.

The Delhi High Court restrained Glenmark Pharmaceuticals from manufacture and sale of US-based Merck Sharp and Dohme's anti-diabetes drugs Zita and Zita-Met, saying that it has infringed patent of the American company, Press Trust of India reported. (CLICK HERE FOR THE FULL REPORT).

The stock opened at Rs 1,032 and touched a low of Rs 1,000. At 12:20PM, over 380,000 shares were traded on both the stock exchanges.