July 30, 2018 / 6:47 AM / 4 months ago

U.S. court expedites Indivior rival's appeal to re-launch generic drug

(Reuters) - Indivior said on Monday a U.S. Court expedited a generic rival’s appeal against a preliminary injunction that blocked the sale of a copycat version of the British drugmaker’s blockbuster opioid addiction treatment.

Indivior won a preliminary injunction earlier this month, preventing India’s Dr. Reddy’s Laboratories from re-launching its copycat version until the patent litigation is concluded or until the company prevails on an appeal of the injunction.

The U.S. court has not yet ruled on Dr. Reddy’s motion to stay the preliminary injunction, Indivior said, adding that under the expedited schedule, oral arguments will be held during the first week of October.

Jefferies expects the outcome of the appeal to favor Indivior, given the original court ruling on the preliminary injunction, the brokerage said in a note, adding that an outcome of the appeal is expected as early as the fourth quarter.

Indivior will also review the launch timing for Perseris, its injectable drug for treating schizophrenia in adults, the company said on Monday, after the U.S. Food and Drug Administration approved the treatment on Friday.

Jefferies said Perseris launch could be delayed beyond the fourth quarter as Indivior has been focusing on its new opioid addiction drug Sublocade.

Indivior’s shares, which have dropped by more than a third since generic versions won approval in mid-June, were little changed in morning trading on Monday at 312.93 pence.

Reporting by Arathy S Nair in Bengaluru; Editing by Bernard Orr, Amrutha Gayathri

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