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Sun Pharmaceutical Industries Ltd. - Clarification Reply

| Updated on July 12, 2018 Published on July 12, 2018

Sub: Clarification to NSE

We refer to your query, a copy of which is attached herewith, vide your email dated today, July 12, 2018 seeking clarification on announcement submitted by us to the Exchange dated July 11, 2018, regarding SUNPHARMA: Sun Pharmaceutical Industries Limited has informed the Exchange regarding a press release dated July 11, 2018, titled "DUSA Pharmaceuticals, Inc. files lawsuit against Biofrontera Inc. for patent infringement, trade secret misappropriation, and tortious interference"

Please find our responses below, to the clarifications, with respect to the aforesaid press release, sought by you;

Query: 1. Quantum of claims, if any

Response: DUSA Pharmaceuticals, Inc (DUSA), our indirect wholly owned subsidiary company has requested the Court to assess the matter for infringement and to then decide the damages to be granted to DUSA. DUSA has not specified any amount of claims and will depend on the Court to decide the quantum of damages.

Query: 2. Expected financial implications, if any, due to compensation, penalty etc;

Response : The financial implications will only be clear once the Court has decided on the complaint, and ruled on award of damages in favour of DUSA.

Query: 3. Brief details of litigation viz. name(s) of the opposing party, court/ tribunal/agency where litigation is filed, brief details of dispute/litigation;

Response :
Name(s) of opposing Parties - BIOFRONTERA INC., BIOFRONTERA BIOSCIENCE GMBH, BIOFRONTERA PHARMA GMBH, BIOFRONTERA DEVELOPMENT GMBH, BIOFRONTERA NEUROSCIENCE GMBH, AND BIOFRONTERA AG
Court where litigation is filed - United States District Court for the District of Massachusetts
Brief details of dispute/litigation - The lawsuit pleads for a declaration of infringement and order of award of damages sufficient to compensate DUSA for the following acts of Biofrontera -
i) infringement of the Patents-in-Suit
ii) misappropriation of DUSAs trade secrets,
iii) tortious interference with DUSA,
iv) deceptive and unfair trade practices.

Kindly let us know in case you require any further clarification.

Pdf Link: Sun Pharmaceutical Industries Ltd. - Clarification Reply

Source : BSE - www.bseindia.com

Published on July 12, 2018
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