Markets

Glenmark loses patent case to Abbott; stock plunges

R. Yegya Narayanan Coimbatore | Updated on March 12, 2018

Shares of Glenmark Pharmaceuticals were down by Rs 17.45 on the BSE after the company said it has lost its appeal to invalidate Abbott Laboratories' Tarka (trandolapril/verapamil hydrochloride) patent in a US court.

The company said that the Court of Appeals for the Federal Circuit, USA, had affirmed the district court's decision on April 22 with regard to Glenmark's marketing of a generic equivalent of Tarka. Glenmark said it was "disappointed with the decision'' and was considering its options.

The shares were trading at Rs 558.95, a loss of Rs 17.45, on the BSE.

Published on April 22, 2014

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