Sanofi Aventis recently announced that a US Court has ordered the seizure of Frontline Plus, a drug produced by Cipla and sold by Velecra. On the back of this, the share price of Cipla has fallen around 1.5%.
Frontline Plus is a veterinary drug that is used as a flea and tick repellent. The drug was invented by an arm of Sanofi Aventis called Merial. In 2010, the drug made revenues of USD 700-900 million, so it is a significant drug in the veterinary space.
A few days back, a US court found Cipla to be in contempt of a March 2008 order which prohibited the company from infringing on Merial
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