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The District Court of New Jersey, US has cleared way for pharma major Dr. Reddy's Laboratories Ltd to sell its generic product version of Allegra D 24 tablets (fexofenadine hydrochloride).
The court had lifted an earlier motion for preliminary injunction on the sale of the drug (indicated for treatment of allergy) which the Hyderabad-based company had obtained an approval from the US Food and Drug Administration (US FDA) on March 16, 2010.
In addition, plaintiff's Sanofi-Aventis and Albany Molecular Research have been required to post a security of $40 million with the court towards the possibility that the injunction had been wrongfully granted.
Security claim
“Having been excluded from launching the generic product since the June 2010 hearing, Dr. Reddy's intends to pursue an award of this security,” the company said in a release on Monday.
Acting on a petition filed by Sanofi-Aventis and Albany Molecular Research, Inc (AMRI), the court had earlier granted a preliminary injunction on the launch of Allegra D 24 by Dr Reddy's in June 2009.
According to industry estimates, the US market for Allegra was $200 million per annum. Dr Reddy's scrip gained 3.72 per cent on the BSE to end at Rs 1624.45 on Monday.
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