Hyderabad-based Dr. Reddy's Laboratories on Thursday announced that it has settled patent litigation with Celgene, a wholly-owned subsidiary of US-based Bristol Myers Squibb, for Revlimid (lenalidomide) capsules. As part of the settlement, Celgene has agreed to provide Dr Reddy's with a licence to sell volume-limited amounts of generic lenalidomide capsules in the US after March 2022 subject to regulatory approval.
"The agreed-upon percentages are confidential," Dr Reddy's said in a regulatory filing.
In addition, Celgene has agreed to provide Dr. Reddy's Lab with a license to its patents required to manufacture and sell an unlimited quantity of generic lenalidomide in the US beginning no earlier than January 31, 2026.
"We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients," said Marc Kikuchi, CEO, North America Generics, Dr. Reddy's Laboratories.
Revlimid is a trademark of Celgene, a wholly-owned subsidiary of Bristol Myers Squibb.
In a separate development, Dr. Reddy's Laboratories said that it has launched over-the-counter (OTC) Olopatadine Hydrochloride Ophthalmic Solution USP, in the US market, as approved by the US Food and Drug Administration (USFDA). Olopatadine Hydrochloride Ophthalmic Solution are indicated for the temporary relief of itchy eyes due to pollen, ragweed, grass, animal hair and dander. It is also indicated for the temporary relief of red eyes.
Meanwhile, shares of Dr. Reddy's Laboratories closed Thursday's trade 4.21 per cent higher at Rs 4,826.60 apiece on the Bombay Stock Exchange after it signed a deal with the Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, to cooperate on clinical trials and distribution of Sputnik V vaccine in India. Following regulatory approval in India, RDIF will supply to Dr. Reddy's 100 million doses of the vaccine.
By Chitranjan Kumar