Sun Pharma Announces Settlement of Patent Litigation for Generic Revlimid® (lenalidomide) in US

Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" and includes its subsidiaries and/or associate companies) along with one of its wholly owned subsidiaries today announced that they have reached an agreement with Celgene Corporation (Celgene), a wholly-owned subsidiary of Bristol Myers Squibb, to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Revlimid® (lenalidomide capsules) in the US.

Pursuant to the terms of the settlement, Celgene will grant Sun Pharma a license to Celgene's patents required to manufacture and sell (subject to USFDA approval) certain limited quantity of generic lenalidomide capsules in the US beginning on a confidential date that is sometime after March 2022. In addition, the license will also allow Sun Pharma to manufacture and sell an unlimited quantity of generic lenalidomide capsules in the US beginning January 31, 2026.

As a result of the settlement, all Hatch-Waxman litigation between Sun Pharma and Celgene, regarding the Revlimid® patents, will be dismissed. Additional details regarding the settlement are confidential. The agreement is subject to customary regulatory approvals.

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.671.25 as compared to the previous close of Rs. 668.4. The total number of shares traded during the day was 96632 in over 3047 trades.

The stock hit an intraday high of Rs. 674.75 and intraday low of 663.5. The net turnover during the day was Rs. 64731255.

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Source : Equity Bulls

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