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Indivior shares plummet as it loses US court battle with India's Dr Reddy's

Last updated: 15:57 20 Nov 2018 GMT, First published: 10:57 20 Nov 2018 GMT

drug
Shares fell more than 4% in afternoon trading

Indivior PLC (LON:INDV) shares plunged over 40% after losing a US court battle to prevent India’s Dr Reddy's Laboratories from selling a generic version of the UK firm’s addiction treatment product Suboxone Film.

"Indivior is disappointed that the U.S. Court of Appeals for the Federal Circuit has vacated the preliminary injunction against Dr. Reddy's Laboratories ("DRL"),” it said.

READ: Indivior achieves further victory in ongoing US court battle with India's Dr Reddy's

Indivior will continue to vigorously pursue ongoing infringement cases against DRL to protect its Suboxone buprenorphine and naloxone) Sublingual Film patent portfolio.”

The company said it is in the process of interpreting the ruling and will issue a statement on its implications once the review has been completed.

Shares were changing hands at 120p in afternoon trading.

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