Sumitomo Dainippon jumps 18% on Latuda resolution

28 November 2018

Sumitomo Dainippon Pharma (TYO: 4506) made massive gains in the stock market on Tuesday.

The Japanese drugmaker closed up by 18% after announcing the settlement of disputes with generics companies seeking to market copies of its depression drug Latuda (lurasidone).

Sumitomo and its US subsidiary Sunovion filed a patent infringement lawsuit before the US District Court for the District of New Jersey in February this year against a total of 16 generic companies.

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