Prabhudas Lilladher: Cipla’s Revlimid Settlement With BMS - A Positive Surprise
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Prabhudas Lilladher Report
Cipla Ltd. is now the fourth player to settle Revlimid patent litigation with Bristol Myers Squibb for volume restricted launch post March-CY22E and no volume restriction post January-CY26E.
Volume restriction and launch date are kept confidential, but we believe the company’s settlement agreement could be similar to Dr. Reddys Laboratories Ltd., Natco Pharma Ltd. / Allgergan and Alvogen.
Volume restriction for each player would be capped at 10% of total Revlimid volume for initial years and gradually increase till CY25E, while launch date will be in the order of settlement done.
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