Glenmark under pressure after losing patent battle to Abbott

MUMBAI: Shares of Glenmark Pharmaceuticals saw profit booking after the company announced that it has lost appeal to invalidate Abbott's patent for blood pressure drug TARKA.

"Glenmark loses its appeal to invalidate Abbott Laboratories' TARKA (trandolapril/verapamil hydrochloride) patent when the Court of Appeals for the Federal Circuit, USA affirmed the district court's decision on April 22, 2014 regarding Glenmark's marketing of a generic equivalent of TARKA," the company said in a statement to the stock exchanges.

Glenmark management is disappointed with the order and it will consider its options.