Notice To Stock Exchange
Sub: Norfloxacin Litigation Update; Disclosure under Clause 36(5) of the Listing Agreement.
Dr. Reddy's manufactures and markets Norfloxacin API and finished dosage under the brand name of Norilet in India and certain international markets. In 1995, the Government of India notified this product as a “specified product” and fixed the maximum selling price for the product in India
In response, the Company filed two writ petitions with the Hon'ble High Court of Andhra Pradesh, Hyderabad. In 1996 the Hon'ble High Court of Andhra Pradesh, Hyderabad suspended the price notifications pending disposal of the petition.
The Hon'ble High Court of Andhra Pradesh, Hyderabad has now issued a common order dismissing the above two writ petitions. While dismissing the writ petitions, Hon'ble High Court has given option to Company to file a review petition in the same court. Hence Company has filed a review petition requesting for review of the order in Hon'ble High Court of Andhra Pradesh, Hyderabad.