Dr Reddy’s faces anti-trust suit in US over cancer drug

Hyderabad-based Dr Reddy’s Laboratories Ltd is among a clutch of pharma companies facing anti-trust suit in the United States over a cancer drug.

The Indian firm, along with US-based Celgene and Bristol Myers Squibb, is among the pharma companies named in a complaint filed in New Jersey, USA on November 18.

The company said in a BSE filing, the complaint, which purports to be on behalf of a class of indirect purchasers, asserts claims under federal and state antitrust laws and other state laws alleging that the defendants improperly restrained competition and maintained a shared monopoly in the sale of brand and generic Revlimid through their respective settlements of patent litigation.

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Revlimid is used in the treatment of multiple myeloma.

The complaint also alleges that the challenged agreements improperly delayed generic entry entirely until 2022 and then improperly limited competition through 2026.

The complaint seeks damages for purported overpayments and equitable relief, the release added.

Dr Reddy’s, however, said that the allegations lacked merit and it would vigorously defend the litigation.

At 2.23 pm, the stock was trading at Rs 4,332.50, down 0.40 percent.