Dr. Reddys Laboratories Ltd updates on litigation

On November 22, 2022, Dr. Reddy's Laboratories Ltd. announced that Dr. Reddy's Laboratories, Inc. (a wholly owned subsidiary of the Company) had been named as defendants, along with Celgene, Bristol Myers Squibb, and several other generic pharmaceutical companies, in a complaint that asserts claims under federal and state antitrust law and other state laws alleging that defendants improperly restrained competition and maintained a shared monopoly in the sale of brand and generic Revlimid in the United States. On December 22, 2022 and December 27, 2022, the plaintiffs voluntarily dismissed Dr. Reddy's Laboratories Ltd. and Dr. Reddy's Laboratories, Inc., respectively, from the case. All claims against the Company in the litigation have now been dismissed.

Shares of Dr. Reddy's Laboratories Limited was last trading in BSE at Rs. 4234.40 as compared to the previous close of Rs. 4259.10. The total number of shares traded during the day was 3970 in over 768 trades.

The stock hit an intraday high of Rs. 4299.95 and intraday low of 4222.05. The net turnover during the day was Rs. 16884705.00.

Source : Equity Bulls

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DrReddysLaboratories INE089A01023 Litigation Update