HYDERABAD, India & PRINCETON, N.J.--(BUSINESS WIRE)--Dr. Reddy�s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as �Dr. Reddy�s�), today announced the settlement of their litigation with Celgene, a wholly owned subsidiary of Bristol Myers Squibb (NYSE: BMY), relating to patents for REVLIMID� (lenalidomide) Capsules.
In settlement of all outstanding claims in the litigation, Celgene has agreed to provide Dr. Reddy�s with a license to sell volume-limited amounts of generic lenalidomide capsules in the U.S. beginning on a confidential date after March 2022 subject to regulatory approval. The agreed-upon percentages are confidential. Dr. Reddy�s is also licensed to sell generic lenalidomide capsules in the U.S. without volume limitation beginning on January 31, 2026.
�We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients,� says Marc Kikuchi, CEO, North America Generics, Dr. Reddy�s Laboratories.
Revlimid� is a trademark of Celgene, a wholly owned subsidiary of Bristol Myers Squibb. Please refer to Revlimid� Package Insert for Black Box warning and important safety information.
RDY-0920-318
About Dr. Reddy�s: Dr. Reddy�s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products � Dr. Reddy�s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy�s operates in markets across the globe. Our major markets include � USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management�s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers�, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements" sections of our Annual Report on Form 20-F for the year ended March 31, 2020. The company assumes no obligation to update any information contained herein.�
Contacts
INVESTOR RELATIONS
AMIT AGARWAL
[email protected]
(PH: +91-40-49002135)
MEDIA RELATIONS
APARNA TEKURI
[email protected]
(PH: +91-40-49002446)
