By Carlo Martuscelli
Indivior said Tuesday that a U.S. court has denied it an emergency motion that would have blocked Dr. Reddy's Laboratories Ltd.'s (500124.BY) plans to launch a generic version of the U.K.-listed company's opioid-addiction treatment.
The court ordered that a mandate be issued on Feb. 19 voiding a previous preliminary injunction stopping the Indian pharmaceutical from bringing its generic medicine to market. Indivior said it will file a petition to stay the mandate with the U.S. Supreme Court.
The U.K.-listed pharmaceutical company is in a legal battle to stop rivals from bringing to market generic alternatives of its Suboxone drug-addiction medication. The company alleges that the Indian company Dr. Reddy's, as well as competitor Alvogen, are infringing on its patents.
Indivior had previously been granted a stop-order against Dr. Reddy's barring it from selling its Suboxone generic, but this was overturned in November, sending shares of the company plummeting. Since then it has engaged with the courts to have the decision revoked.
Indivior said that it expects Dr. Reddy's to resume the launch of its U.S. product once the mandate that formally vacates the preliminary injunction is issued on Feb. 19. Given a previous agreement it struck with Alvogen, the U.S. rival will also begin selling its version of Suboxone at the same time.
Indivior had previously said that, based on precedent, this could result in Suboxone losing 80% of its market share in a matter of months.
Write to Carlo Martuscelli at email@example.com