Don't want to miss the best from Business Standard?
Natco Pharma declined 2.51% to Rs 940.85 after a US District Court issued a decision in favour of Pharmacyclics, a subsidiary of Chicago-based AbbVie's Pharmacyclics LLC, the brand owner of Imbruvica in a PIV litigation involving the product.
Ibrutinib, sold under the brand name Imbruvica among others, is a cancer medicine that interferes with the growth and spread of cancer cells in the body. In the year 2018 NATCO and Alvogen, filed an Abbreviated New Drug Application (ANDA) with PIV certification for generic version of the product.
The company and its marketing partner in US for the product, Alvogen Pine Brook, USA, shall review the judgement and evaluate all options to appeal the judgement, Natco Pharma said. "We believe that we have a strong case and will continue to defend vigorously," it added.
On a consolidated basis, Natco Pharma's net profit dropped 38.6% to Rs 75 crore on 27.2% fall in net sales to Rs 410.30 crore in Q1 June 2021 over Q1 June 2020.
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app