Drug firm Lupin has resumed the sales of generic version of Shionogi’s Fortamet tablets, used in treating diabetes, in the American market after getting clearance from a US Court.
“US Court of Appeals for the Federal Circuit has granted its (Lupin’s) request to stay the preliminary injunction that had earlier barred the sales of its generic of Shionogi’s Fortamet tablets,” Lupin said in a statement today.
In December last year, Shionogi’s request for a preliminary injunction had been granted and had blocked Lupin from further sales of the product.
Lupin had received final approval for its generic version from the US Food and Drug Administration and had launched the product in September 2011. Following the court order, the company said it has now resumed sales of the product in the US market, the statement added.
Fortamet is indicated as a supplement to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus.
Citing IMS Health data, the company said annual US sales for Fortamet stood at $70.2 million for the 12 months ended December 2011.
Shares of Lupin were trading at Rs 556 on the BSE in the afternoon trade, up 0.32 per cent from their previous close.