Sun Pharma up on US court’s diabetes ruling

Published: April 17, 2020

Wed Apr 18, 2020 10:56am IST

Reuters Market Eye - Sun Pharmaceutical Industries (SUN.NS) rose 2.4 percent after the U.S. Supreme Court allowed the Indian drug maker to sue a brand name rival in a bid to develop a generic diabetes drug for the U.S. market.

Caraco Pharmaceuticals, a unit of Sun, had argued the patent description for Prandin, a diabetes drug developed by Denmark’s Novo Nordisk, was too broad, and effectively prevented generic versions to hit the market.

Analysts say that Sun Pharma is now more likely to be able to launch a generic version of Prandin, probably by fiscal 2013.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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Published April 17, 2020 by in news
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