Indivior wins prelim injunction vs. Dr. Reddy’s
Indivior PLC (INDV.LN) said Monday that a U.S. court has granted the company a preliminary injunction against Dr. Reddy’s Laboratories Ltd. (500124.BY) over a product that treats opioid dependence.
London-listed Indivior said the U.S. District Court for New Jersey on July 13 granted a preliminary injunction that will see India-based Dr. Reddy’s Laboratories unable to sell, offer to sell, or import its generic buprenorphine/naloxone sublingual film product. This is until there is an outcome to a recently filed litigation against DRL related to Indivior’s U.S. patent of its own opioid-dependence treatment product, or a decision of the U.S. Court of Appeals to dissolve the injunction.
The court has ordered that the two companies submit a final proposed injunction order due Monday.
The court has also ordered Indivior to post a bond to provide security to DRL should the court conclude at the end of the patent litigation that the patent is invalid and/or not infringed.
Indivior said DRL sold a quantity of its generic buprenorphine/naloxone sublingual film in the U.S. prior to the granting of a temporary restraining order on June 15. The company anticipates the net revenue impact from this is at least $25 million for fiscal 2018.
Indivior previously said its fiscal 2018 financial guidance is no longer valid and it cant provide updated net revenue and adjusted net income guidance until the impact of DRL’s launch is better understood. The company expects this will be no later than its third quarter due Nov. 1.
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