Sensex up 100 pts, Nifty above 9950; Dr Reddy’s Labs spikes 9%

Dr Reddy’s Laboratories shares rallied more than 9 percent intraday after settlement agreement with US-based Vivus to resolve a long-pending patent litigation related to anti-obesity pill (or weight management capsules) Qsymia.

The settlement agreement permits the company to begin selling a generic version of Qsymia on June 1, 2025, or earlier under certain circumstances. In the event of a launch earlier than June 1, 2025, Vivus will receive a royalty on sales of the generic version of Qsymia.

Qysmia is a combination of phentermine and topiramate extended-release sold in capsule form. The drug is used to manage chronic overweight in adults with obesity symptoms.
The drug has gross sales of around USD 73.6 million in 2016.

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Posted in: Indian Market Tips