The US Supreme Court Chief Justice Roberts has denied Teva's application for an injunction seeking to prevent launch of a generic version of Copaxone® pending the Supreme Court's decision on Teva's appeal, Natco Pharma said in a release on Monday.
Natco and Teva had been embroiled in a patent fight over the top-selling multiple sclerosis drug Copaxone. Teva’s Copaxone is indicated for the treatment of multiple sclerosis and had registered revenue of $4.2 billion in the US during 2013.
Teva’s Copaxone patents expiring in September 2015 were held invalid by a US court in July 2013, making generic entry possible in May this year when the remaining patents expire.
The stock had opened at Rs 780 and touched a high of Rs 866.90 on the BSE so far. over 565,000 shares were traded on both the stock exchanges so far.