Shares in Dr. Reddy’s Laboratories (NYSE:RDY) shot up yesterday after the U.S. Court of Appeals for the Federal Circuit vacated a previous decision that blocked the company from selling a generic verson of Indivior‘s (LON:INDV) Suboxone buprenorphine and naloxone sublingual film.
Dr. Reddy’s said it plans to resume launch activities for the product, which won FDA approval in June.
The court ruled that Indivior had not shown that it’s likely to succeed on the merits of its patent infringement case against Dr. Reddy’s.
“We are pleased with the decision of the appellate court in Dr. Reddy’s favor, vacating the preliminary injunction that had prevented Dr. Reddy’s from bringing this important drug to the public. We are committed to providing affordable and innovative medicines that address the unmet and under-met needs of patients around the world and in particular look forward to taking the lead in helping to fight opioid use disorder,” a spokesperson for the company said in prepared remarks.
Indivior said it plans to “continue to vigorously pursue ongoing infringement cases,” against Dr. Reddy’s.
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