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Dr Reddy’s Laboratories ( (RDY) ) has shared an update.
In a recent disclosure, Dr. Reddy’s Laboratories announced ongoing legal challenges related to the drug Revlimid®. Lawsuits filed in 2023 and 2024 allege that a patent settlement agreement between Dr. Reddy’s, Celgene, and BMS violated antitrust and consumer protection laws by delaying the entry of generic versions of Revlimid® into the market. On June 6, 2024, a court dismissed several claims against other defendants, allowing plaintiffs to amend their complaints, which they did on August 5, 2024. Dr. Reddy’s, along with other defendants, has moved to dismiss these lawsuits, with motions pending and discovery stayed. Additional similar complaints were filed on December 16, 2024, with Dr. Reddy’s and other defendants requesting to dismiss these actions on January 13, 2025.
More about Dr Reddy’s Laboratories
Dr. Reddy’s Laboratories is a pharmaceutical company based in Hyderabad, India, focusing on the production and marketing of generic drugs and active pharmaceutical ingredients globally. The company is listed on major stock exchanges including the National Stock Exchange of India, BSE Limited, and the New York Stock Exchange.
YTD Price Performance: -5.55%
Average Trading Volume: 1,419,662
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $12.42B
Find detailed analytics on RDY stock on TipRanks’ Stock Analysis page.
