Latest News | Dr Reddy's Lab Signs Settlement Pact with Indivior, Aquestive

New Delhi, Jun 24 (PTI) Homegrown pharma major Dr Reddy's Laboratories Ltd on Friday said it has entered into a settlement agreement with Indivior Inc and Aquestive Therapeutics as a result of which it will receive payments totalling USD 72 million (over Rs 560 crore) by March 31, 2024.

The said agreement resolves all claims between the parties relating to the company's generic buprenorphine and naloxone sublingual film, 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg dosages, Dr Reddy's Laboratories said in a regulatory filing.

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The settlement also covers Indivior's and Aquestive's patent infringement allegations and the company's antitrust counterclaims, it added.

Buprenorphine and naloxone sublingual film medication is used to treat opioid dependence or addiction.

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"Pursuant to the agreement, the company will receive payments totalling USD 72 million by March 31, 2024," DRL said adding, as part of the settlement, the underlying litigation will be dismissed.

Shares of the company edged higher by 0.29 per cent to Rs 4,308.75 apiece at close on BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)