Dr. Reddy’s wins patent row with Merck in Russia - Views on News from Equitymaster

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  • Jan 21, 2000 - Dr. Reddy’s wins patent row with Merck in Russia

Dr. Reddy’s wins patent row with Merck in Russia

Jan 21, 2000

A Russian arbitration court has ruled in favour of the Dr. Reddy’s Laboratories (DRL) in a patent row with the American Merck & Co. The court has ratified DRL’s claim that it makes ‘enalapril maleate’ for its registered drug ‘Enam’ by an original process different from the one patented by Merck. Besides, the court has also asked Merck to reimburse DRL its legal expenses.

The judgement would definitely lift the sentiment for the stock. Last year DRL had been hit badly by the Russian crisis as well as the court case against it. Of the company’s receivables of Rs 510 m the company wrote off Rs.159 m in FY 99 and had announced plans to write off another Rs 100 m in the current year. Of the balance Rs.250 m, the company had received Rs 150 m in the first half with the balance expected during the second.

With the expected reimbursement of the legal expenses too, the company has put behind the entire Russian episode behind it.

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