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Glenmark shares today fell after the company has lost court case on diabetes drugs.
The shares fell as much as 2.2 per cent, its lowest point since September 4.
The Delhi High Court on Wednesday restrained Glenmark from manufacturing and selling the diabetes drugs Zita and Zita-Met, saying they infringed the patents held by MSD, a unit of US firm Merck & Co Inc.
Merck has been selling the medicines under the brand names Januvia and Janumet since 2008.
Justice A K. Pathak said in an order released on Wednesday that Glenmark was “restrained by a decree of permanent injunction from making, using, selling, distributing, advertising, exporting, offering for sale’’ both drugs.
Glenmark said it was evaluating its legal options. MSD said it was pleased with the court’s decision.
A month’s dose of Merck’s drugs costs about Rs 1,300 ($20) and Rs 1,900 ($30), respectively, and Merck has licensed the medicines to Sun Pharmaceutical Industries Ltd for sale in India.
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