Divi’s Labs downplays impact of US Court patent ruling
Divi’s Laboratories Limited has officially responded to recent media speculation about a US court ruling related to patent litigation, emphasizing that the news will have no material impact on the company’s operations.
The shares of Divi’s Laboratories Limited were trading at ₹6,099.50 down by ₹157 or 2.51 per cent on the NSE today towards the closing bell.
In a stock exchange filing dated December 05, 2024, the pharmaceutical contract manufacturing organization (CDMO) addressed a news report stating that US courts had ruled Novartis cannot block generics of a best-selling heart drug. The company’s official communication strategically avoided commenting directly on patent lawsuits of pharmaceutical companies.
The company clarified that as a manufacturer of Active Pharmaceutical Ingredients (APIs) and a CDMO, it maintains regular supply agreements with customers. Divi’s Labs stressed that the news article does not warrant significant concern for its business performance.
Shares of Divi’s Laboratories reportedly fell nearly 3 per cent following the initial news report, though the company maintains a neutral stance on potential implications.
