Last Updated on September 13, 2023 by The Health Master
Antitrust Lawsuit
Natco Pharma, a leading pharmaceutical company based in Hyderabad, has recently become a defendant in an antitrust lawsuit in the United States.
This legal action revolves around a generic cancer treatment drug, Pomalidomide, and involves several other prominent drug makers.
The lawsuit was filed by Louisiana Health Service & Indemnity Company, operating as Blue Cross and Blue Shield of Louisiana, with HMO Louisiana Inc
Background of the Antitrust Lawsuit
The Antitrust Lawsuit specifically targets Natco Pharma, alongside major players in the pharmaceutical industry including Celgene Corporation, Bristol Myers Squibb, and Breckenridge Pharmaceutical Inc.
These companies have been named as defendants in the case concerning the anti-cancer treatment drug, Pomalidomide.
Natco Pharma’s Response:
Natco Pharma promptly addressed the antitrust lawsuit, stating that they firmly believe the claims made against them lack merit.
In a formal statement, the company expressed confidence in its position regarding the generic cancer treatment drug.
Role of Breckenridge Pharmaceutical Inc.:
Breckenridge Pharmaceutical Inc. holds a crucial role in this scenario, acting as both the abbreviated new drug application (ANDA) holder and the distribution partner for the generic product in the United States.
This indicates the substantial involvement of Breckenridge Pharmaceutical Inc. in the production and distribution of Pomalidomide.
Market Impact:
As news of the lawsuit broke, the repercussions were evident in Natco Pharma‘s stock performance.
The company’s shares experienced a notable decrease, trading 3.13 percent lower and settling at Rs 885.00 apiece on the Bombay Stock Exchange (BSE).
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
Vitamin B17: Unmasking the Controversial Cancer cure Myth
USFDA issued EIR to Aurobindo Pharma: Telangana
Drug alert: 7 drugs identified as NSQ in Rajasthan
Telangana IPGA Hosts Workshop on Good Teaching Practices
USFDA Approval granted for Isotretinoin Capsules for Acne Treatment
Govt to implement uniform measures for Drug Quality and Safety
Delhi High Court prioritizes hearing on ban on Cough Syrup
Drug alert: WHO issues urgent Alert over fake liver drug in India and Turkey
Delhi High Court upholds inclusion of Medical Devices as Drugs under…
For informative videos by The Health Master, click on the below YouTube icon:
For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:
For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:
For informative videos on consumer awareness, click on the below YouTube icon:
