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Shares of Glenmark Pharmaceuticals today fell 2.3 per cent as the Division Bench of Delhi High Court has restrained it from manufacturing and marketing anti-diabetes drug Zita and Zita-Met.
Glenmark says it is seeking legal advice and will take appropriate action.
According to Macquarie, the court has found that Glenmark has prima facie infringed Merck patent.
However, the investment bank says that would continue to outpace domestic industry growth handsomely.
According to analysts, the two drugs contribute nearly 3 per cent of Glenmark’s revenues.
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