Novartis gains on getting patent right

Novartis finally ended with a Rs 21 or 3.6% gain at Rs 590. Around 30,063 shares changed hands at the counter today.
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(Updated at 0937 hrs)

Novartis has soared as it has got the patent right for Nilotinib, a  a superior version of blood cancer drug Gleevec

The stock opened at Rs 580 and soared to a high of Rs 600. The stock is now trading at Rs 593, up 4% from its previous close. The counter has clocked volumes of 1,872 shares on the BSE.

It has been engaged in a legal battle with the government on the latter’s decision to deny patent protection for Gleevec.