Cipla Gains Nearly 5% On Settlement of US Patent Litigation

Cipla shares gained nearly 5 per cent to top the gainers list on the BSE after the pharma major announced settlement of its patent litigation with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, in the United States. The shares of Cipla touched an intra-day high of ₹ 792.80, up 4.8 per cent in early trading on the back of the news development. At 9:55 am, the shares of Cipla were trading at ₹ 784.75, up 3.89 per cent. on the BSE.

As part of the settlement, the parties will file consent judgments with the United States District Court for the District of New Jersey that enjoin Cipla from marketing generic lenalidomide before the expiration of the patents-in-suit, except as provided for in the settlement, Cipla said in a regulatory filing to the stock exchanges.

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