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Stock Recommendation: Dr Reddy’s Laboratories — Reduce — TP Rs 2150
Publish date: July 18, 2018
Suboxone setback
Dr Reddy’s Laboratories (DRRD) has been asked by a US court to stop selling a cut-price drug that helps treat opioid addiction.
UK-based drugmaker Indivior had filed a case against DRRD, arguing that the latter were intending to relaunch a cheaper version of their top-selling Suboxone Film.
The temporary restraint is likely to impact the Indian drugmaker’s profitability and also postpone the company’s launch in the US.
Key Highlights
- The US court says it is likely that DRRD will lose out on the opportunity to relaunch the drug due to patent infringement.
- The temporary block may postpone DRRD’s launch till CY2022 at least
Valuation & outlook
We have revised our FY2019-21 estimates by 9-13% due to the recent court injunction.
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