Divi’s Laboratories, in a clarification issued to the exchanges today, addressed recent media reports linking the company to Novartis’ ongoing patent lawsuit in the U.S. regarding the heart drug Entresto. The company stated that it cannot comment on the patent lawsuits of big pharmaceutical companies but confirmed that there is no material impact of the news on its business operations. It also emphasized its role as a Contract Development and Manufacturing Organization (CDMO) with supply agreements in place for various customers, including Novartis.
Shares of Divi’s Laboratories were trading 3.14% lower at ₹6,060.10 on the NSE as of 1:25 pm on December 5, following a clarification issued by the company regarding a media report.
Earlier today, Moneycontrol reported that Divi’s Laboratories shares dropped nearly 3% as Novartis failed to convince a US appeals court to block MSN Pharmaceuticals’ proposed generic version of its blockbuster heart drug, Entresto. The court’s decision paves the way for MSN’s launch of the first US Entresto generic.
Divi’s Laboratories clarified that it cannot comment on patent lawsuits involving large pharmaceutical companies and their impact. The company emphasized that, as a Contract Development and Manufacturing Organization (CDMO) and Active Pharmaceutical Ingredients (API) manufacturer, it holds supply agreements with certain customers, including Novartis for Entresto. However, the news article has no material impact on the company.
