Wockhardt has surged 12% to Rs 574 on reports that Avanir Pharma signs settlement agreement with the pharmaceutical firm on Nuedexta patent litigation.
The stock opened at Rs 533 and touched high of Rs 575 on NSE. A combined 845,627 shares change hands on the counter so far on NSE and BSE.
US-based Avanir Pharmaceuticals has entered into a settlement agreement with the US unit of Wockhardt to resolve pending patent litigation in response to Wockhardt's abbreviated new drug application (ANDA) seeking approval to market generic versions of Avanir's Nuedexta capsules.
As part of the deal, Wockhardt gets the right to start selling a generic version of Nuedexta on 30 July 2026, or earlier under certain circumstances.
Nuedexta is used for the treatment of pseudobulbar affect (PBA), which occurs secondary to a variety of otherwise unrelated neurological conditions, and is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying.
The stock opened at Rs 533 and touched high of Rs 575 on NSE. A combined 845,627 shares change hands on the counter so far on NSE and BSE.
US-based Avanir Pharmaceuticals has entered into a settlement agreement with the US unit of Wockhardt to resolve pending patent litigation in response to Wockhardt's abbreviated new drug application (ANDA) seeking approval to market generic versions of Avanir's Nuedexta capsules.
As part of the deal, Wockhardt gets the right to start selling a generic version of Nuedexta on 30 July 2026, or earlier under certain circumstances.
Nuedexta is used for the treatment of pseudobulbar affect (PBA), which occurs secondary to a variety of otherwise unrelated neurological conditions, and is characterized by involuntary, sudden, and frequent episodes of laughing and/or crying.
Meanwhile, the stock has rallied 30% in past three trading sessions after the company said its promoter, Khorakiwala Holdings & Investments Private Ltd has acquired 211,094 equity shares of the pharmaceutical company via market purchase.
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