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.