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Glenmark loses patent case to Abbott in US; stock tumbles

PUBLISHED ON: January 18, 2011 | Duration: 2 min, 21 sec

  
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Indian drug firm Glenmark has lost a patent case against US firm Abbott Laboratories over hypertension drug Tarka. Subsequently it will pay $16 million in damages to the US firm. As a result, shares of Glenmark fell sharply on the BSE and the NSE. Glenmark was selling generic Tarka, at-risk, in the US markets since June 2010.
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