Equity Alert: Pharma cos seen up led by Ranbaxy patent settlement

[K.Karthik Raja]

Equity Alert: Pharma cos seen up led by Ranbaxy patent settlement
Thursday, Jun 19
Equity Alert: Pharma cos seen up led by Ranbaxy patent settlement
MUMBAI--9:25AM--Shares of pharmaceutical companies such as Dr.
Reddy's Laboratories, Sun Pharmaceuticals, and Lupin Laboratories are
seen up aided by news that Ranbaxy had settled its Lipitor patent
dispute with Pfizer.
Patent litigations account for a substantial portion of costs of
generic
companies.
Generic pharmaceutical companies have filed Para IV challenges
questioning the validity of drug patents in overseas markets.
The news of Ranbaxy's Lipitor settlement, which came after market
hours Wednesday, may help select pharma shares gain.
However, the rise may be limited as the market is largely seen
declining Wednesday, Dr. Reddy's ended at 689.40 rupees, down 2.71%.
On NSE, 236,910 shares of the company were traded.
Lupin ended at 703 rupees, down 2.34%, and Sun Pharma closed at
1,482.20 rupees, down 1.04% from previous close.
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