Cipla losses appeal in US court for animal healthcare product
Drugmaker Cipla said on Thursday a US appeals court had upheld a district court's ruling, which last year declared a patent infringement by Cipla over animal healthcare drug PetArmor Plus.
The PetArmor Plus brand is owned by Merial Ltd, a unit of French drugmaker Sanofi, and is used to treat fleas in cats and dogs.
Sales of Cipla's product were suspended from June 30 last year after the court of Middle District of Georgia ruled the case in favour of Merial.
The financial implications of this case are yet to be determined, Cipla said in a statement to the Bombay Stock Exchange. "The company is examining options for preferring an appeal against the aforesaid Federal Circuit order," it added.
Shares in Cipla fell 0.37% to Rs 308 on Thursday when the broader Mumbai market rose 1.05%.
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