Cipla rallies 5% after settling litigation with Bristol Myers in US

Bristol Myers (Celgene) will provide Cipla with a license to sell generic volume-limited amounts of gRevlimid capsules in the US sometime after March 2022, subject to regulatory approval

Shares of Cipla rallied 5 per cent to Rs 793 on the BSE on Monday after the pharma company announced the settlement of Revlimid (Lenalidomide) patent litigation with Celgene [Bristol Myers Squibb (BMS)] in the United States.

Under the terms of the settlement, Celgene will provide Cipla with a license to sell generic volume-limited amounts of gRevlimid capsules in the US sometime after March 2022 subject to regulatory approval. This limited volume constraint will be applicable till January 2026. The oncology drug, indicated for treatment of multiple myeloma, had annual US sales of $9 billion in CY19 as per