Full Press Release Details
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd (Stock Code: DRREDDY)
pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This is in furtherance of our intimation dated
March 1, 2024, wherein we informed that Dr. Reddy's Laboratories, Inc., wholly owned step down subsidiary of the Company, and Dr.
Reddy's Laboratories Limited ("the Company") were named as defendants in a complaint that was made public on February
29, 2024, in the United States District Court for the District of New Jersey. In continuation to the said complaint through amended complaints,
three additional groups of plaintiffs have sought to add DRL as a defendant in their already pending lawsuits previously consolidated
into the In re Revlimid antitrust action. The first such plaintiff is United Healthcare Services, Inc. ("United"). The second
such group of plaintiffs is composed of Cigna Corp., Humana Inc., Blue Cross Blue Shield Association, Health Care Service Corporation,
Blue Cross and Blue Shield of Florida, Inc., and Molina Healthcare, Inc. (together, the "Insurer Plaintiffs"). The third such
group of plaintiffs is composed of Jacksonville Police Officers and Fire Fighters Health Insurance Trust, Carpenters and Joiners Welfare
Fund, Teamsters Local 237 Welfare Fund and Teamsters Local 237 Retirees' Benefit Fund, and Teamsters Western Region and New Jersey
Health Care Fund, who bring their claims on behalf of a purported class of end-payors of Revlimid and generic equivalents (the "EPP
On June 6, 2024, the court issued an order on
pending motions to dismiss filed by other defendants, in which the court dismissed all claims at issue in that motion, including claims
challenging the litigation settlement agreements. The order allowed the relevant plaintiffs to file amended complaints. On August 5, 2024,
all Plaintiffs filed amended complaints, including the amended complaints filed by United, Insurer Plaintiffs, and EPP Plaintiffs, described
above, which sought to add DRL as a defendant in those actions for the first time. DRL and all other defendants to the In re Revlimid
antitrust action have filed motions to dismiss each of Plaintiffs' lawsuits in their entirety. Those motions are pending. The Company
intends to vigorously defend its positions.
This is for your information and records.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR