MUMBAI, India, Oct. 21, 2020 /PRNewswire/ -- The interim relief granted to Lasa by Hon'ble High Court will protect and further strengthen its research and confidential information and its position in "Benzimidazole derivatives" market. It will also prevent the misuse of its extremely valuable proprietary right and act as Strong deterrent to other infringers.
Lasa Supergenerics Limited (Lasa), India's leading API manufacturer, announced that it has been granted ex parte interim relief vide order dated 12th October 2020 from Commercial Division of the Hon'ble High Court, Bombay. A competitor and a former employee of Lasa has been restrained in the following terms:
"(b) Pending the hearing and final disposal of the present suit the Respondent Nos. 1 and 2, by itself or through its directors, group companies, associates, divisions, assigns in business, servants, job workers, proprietors, partners, licensees, franchisees, agents, distributors, dealers, stockists and all persons claiming through the Respondents, directly or indirectly, be restrained by a temporary order and injunction of this Hon'ble Court from selling, offering for sale, importing, exporting or dealing in Albendazole i.e. Methyl 5-(propylthio)-lh-benzo [d] imidazol-2-ylcarbamate manufactured by use of the Confidential Information, details and particulars of which are given in Paragraph 31 of the plaint;
(c) Pending the hearing and final disposal of the present suit the Respondent Nos. 1 and 2, by itself or through its directors, group companies, associates, divisions, assigns in business, servants, job workers, proprietors, partners, licensees, franchisees, agents, distributors, dealers, stockists and all persons claiming through the Respondents, directly or indirectly, be restrained by a temporary order and injunction of this Hon'ble Court from using, making copies of, disclosing / divulging / parting with possession / distributing / circulating to any third parties by any means, mode or method, directly or indirectly, in any manner, the said Confidential Information, details and particulars of which are given in Paragraph 31 of the plaint;
(e) that pending the hearing and final disposal of this suit, the Court Receiver, High Court, Bombay, or such other fit and proper person/s as this Hon'ble Court thinks fit, be appointed as receiver in respect of Albendazole manufactured by Defendant No. 1 and now available with and being supplied, delivered by Defendant No. 10 at its office situated at Loyalka Apartment, Loyalka Compound, Room No. 1, 2nd Floor, Siri Road, Mumbai - 400006, Maharashtra, India OR at No. 455-5, Gala No. 04, 1st Floor, Oswal Compound, Purna Village, Bhiwandi, Thane - 421302, Maharashtra, India OR at his transporter's address V-Trans (India) Pvt. Ltd., 99/101, Keshavji Naik Road, New Chinchbunder, Mumbai-400 009 and the same be seize and taken into custody/possession thereof, with police protection, if necessary;"
Receipt of this ex parte interim relief is a major development for Lasa, as it will enable the company to -
- Regain the disturbed market share
- Achieve better realizations for its products and improved profitability
- Act as a strong deterrent to other companies from using Lasa's proprietary information.
Lasa has subsisting process patent in its name for the invention titled "AN IMPROVED PROCESS FOR THE PREPARATION OF METHYL 5- (PROPYLTHIO)-1H-BENZO [D] IMIDAZOL-2-YLCARBAMATE" and its products based on the patented process and by use of its confidential information comprised over 85% of the company's FY2020 revenues.
About Lasa Supergenerics Limited (www.lasalabs.com) (BSE: 540702) (NSE: LASA)
Incorporated in 2011, Lasa is a globally well-trusted API maker of high-quality products accepted by large pharma majors across the globe. The Company is a pioneer and amongst the leading players in the manufacturing of Veterinary APIs, with a well-established brand known for its high-quality products amongst various customers. The Company has state-of-the-art manufacturing facilities located at Mahad & Chiplun, Maharashtra with a total installed capacity of 4,300 MT. The Company is steadily diversifying into hormonal APIs for human use. More than 25% of its APIs are exported to countries such as Australia, Bangladesh, Middle East, China, Turkey, Egypt, Jordan, Korea, and Pakistan.
DISCLAIMER: Certain statements that are made in the Press Release may be forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. Lasa Supergenerics Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For more information, please contact:
Vice President - Legal, Lasa Supergenerics Limited
Mandar Kapse/Vikash Verma