New Delhi, Ipca Laboratories Ltd on Thursday said an EU court has upheld a collective fine of 13.96 million euros (about Rs 125.62 crore) imposed on its unit Unichem Laboratories and step-down subsidiary Niche Generics over a patent dispute settlement agreement. Is kept.
The Court of Justice of the European Union upheld a fine of 13.96 million euros (approximately Rs 125.62 crore) collectively imposed by the General Court of the European Union on Unichem Laboratories Ltd and step-down subsidiary Niche Generics Ltd in connection with a patent dispute settlement agreement. Is. Ipca Labs said in a regulatory filing that it has filed a case with innovator French company Servier Group for the drug Perindopril.
Servier Group, whose parent company Servier SAS developed perindropil, a drug used in the treatment of high blood pressure and heart failure, received a patent in 2004.
The filing said that following disputes in which the validity of the patent was challenged by several companies, including Unichem/Niche, Servier entered into various settlement agreements with several generic companies, including Unichem and Niche, to settle the patent dispute.
However, it was alleged that Unichem and Niche had violated EU competition law by agreeing to settle a patent dispute with Laboratories Servier, the company said.
Ipca Labs said there will be no significant impact on the company's operations, adding that it and Unichem have already made a provision of Rs 125.62 crore in their accounts in connection with the lawsuit.
The Court of Justice of the European Union upheld a fine of 13.96 million euros (approximately Rs 125.62 crore) collectively imposed by the General Court of the European Union on Unichem Laboratories Ltd and step-down subsidiary Niche Generics Ltd in connection with a patent dispute settlement agreement. Is. Ipca Labs said in a regulatory filing that it has filed a case with innovator French company Servier Group for the drug Perindopril.
Servier Group, whose parent company Servier SAS developed perindropil, a drug used in the treatment of high blood pressure and heart failure, received a patent in 2004.
The filing said that following disputes in which the validity of the patent was challenged by several companies, including Unichem/Niche, Servier entered into various settlement agreements with several generic companies, including Unichem and Niche, to settle the patent dispute.
However, it was alleged that Unichem and Niche had violated EU competition law by agreeing to settle a patent dispute with Laboratories Servier, the company said.
Ipca Labs said there will be no significant impact on the company's operations, adding that it and Unichem have already made a provision of Rs 125.62 crore in their accounts in connection with the lawsuit.
