Dr. Reddy's Laboratories announced that following the launch of its generic Buprenorphine and Naloxone Sublingual Film in the U.S. Market, the U.S. District Court for the District of New Jersey has received and reviewed an emergency application from the plaintiffs in the current patent litigation for a temporary restraining order and preliminary injunction against Dr. Reddy's.

Pending a hearing and decision on the injunction application, the court has issued a temporary restraining order against Dr. Reddy's with respect to further sales and commercialization of Buprenorphine and Naloxone Sublingual Film within the U.S.

The court order does not include a prohibition on commercial manufacturing of the product. The plaintiffs will be required to post a bond or other security totaling USD 18 million (USO) to satisfy any losses or damages incurred by Dr. Reddy's during the period of the temporary restraining order. The court has scheduled an expedited hearing of the preliminary injunction for Thursday, June 28, and a ruling is expected soon thereafter.

The proceeding only involves one patent, U.S. Patent No. 9,931,305. Dr. Reddy's remains confident in its legal positions on this patent and believes it will prevail on the issues raised with respect to the application for injunction.

Shares of the company declined Rs 31.1, or 1.32%, to trade at Rs 2,320.00. The total volume of shares traded was 111,372 at the BSE (12.28 p.m., Monday).