Dr Reddy's Bags Court Nod To Roll Out Allegra-D 24 Tabs In US
Submitted by Gurpreet Singh on Mon, 01/31/2011 - 08:28
The US District Court of New Jersey has cleared up the decks for the country's second-biggest pharmaceutical manufacturer, Dr Reddy's Laboratories, to roll out a generic edition of Allegra-D 24 pills in the US market.
As per Dr Reddy's, the New Jersey Court has also asked Sanofi-Aventis and Albany Molecular Research that previously bagged an injunction against the introduction of the generic drug, to deposit a security of $40 million with the court instead of the prospect that the injunction had been wrongfully allowed.
Based on an appeal registered by Albany Molecular Research, Inc (AMRI), and Sanofi-Aventis, the US District Court had previously allowed a preliminary injunction on the beginning of Allegra-D 24 (fexofenadine hydrochloride/pseudoephedrine hydrochloride) extended release pills in 180 mg and 240 mg potencies by Dr Reddy's during June 2010.
During September 2009, AMRI registered a patent breach lawsuit against Dr Reddy's for so-called breach of one of AMRI's patents linked to the manufacturing procedure for the active ingredient in Allegra-D 24.
AMRI signed deal with French drug-manufacturer Sanofi-Aventis SA, which sells Allegra, to lodge the claim.
Dr Reddy's generic Allegra-D 24 drug was sanctioned by the Food and Drug Administration on March 16, 2010.
As per reports, the US market for this medicine is worth approximately $200 million.
With the reports that the US court lifted its injunction order on Allegra-D 24, scrips of Dr Reddy's surged 2.25% and were being ruled at Rs 1,601.5 per share on the Bombay Stock Exchange today.
