Preliminary US court injunction against Dr Reddy's generic Allegra sees Indian firm's shares drop
A US court has issued a preliminary injunction to prevent Indian drugmaker Dr Reddy's Laboratories from the commercial distribution of generic versions of the allergy drug Allegra-D 24 Hour (fexofenadine 180mg and pseudoephedrine 240mg) extended-release tablets.
The news saw the shares of India's second-biggest pharmaceutical company fall 3.7% to close at 1,411.55 rupees in Mumbai, the biggest decline since January 21, while India's benchmark Sensitive index gained 1.6%, noted the Bloomberg news service.
On June 14, 2010, US District Court Chief Judge Garrett Brown, Jr, District of New Jersey, issued the preliminary injunction based on a March 22, 2010 motion filed by Albany Molecular Research (AMRI) and partner French drug major Sanofi-Aventis, in response to the March 17, 2010 approval of Dr Reddy's generic version of Allegra-D 24 Hour by the US Food and Drug Administration.
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