The Exchange has sought clarification from Zydus Lifesciences Limited with respect to recent news item captioned Lupin, Zydus Life shares fall up to 5% as US court sides with Astellas in Myrbetriq patent case. The response from the Company is awaited.
ZYDUSLIFE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.0 pts less than Nifty 100 and 0.2 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The stock exchange has asked Zydus Lifesciences to clarify a recent news report that Lupin and Zydus shares fell up to 5% after a US court ruled in favour of Astellas in the Myrbetriq patent case. Myrbetriq is a drug used to treat overactive bladder, and the ruling suggests Zydus and Lupin may face restrictions on launching generic versions in the US market. The company has not yet responded, and the exchange is waiting for its reply. Shares of both Lupin and Zydus saw a notable drop following the news.
This is negative for Zydus shareholders as a court loss in a key US patent case could delay or block generic Myrbetriq launches, hitting future US revenue. Until the company responds, uncertainty around the extent of the impact is likely to keep the stock under pressure.