Natco Pharma gains after settling infringement suit for generic Tamiflu

Natco Pharma rose 1.38% to Rs 539.50 at 09:25 IST on BSE after the company and Alvogen announced that they have settled infringement suit with Gilead and others for generic Tamiflu.

The announcement was made during trading hours today, 14 December 2015.

Meanwhile, the BSE Sensex was down 96.78 points, or 0.39%, to 24,947.65

On BSE, so far 9,920 shares were traded in the counter, compared with an average volume of 18,833 shares in the past one quarter.

The stock hit a high of Rs 543 and a low of Rs 534 so far during the day. The stock hit a record high of Rs 598 on 26 November 2015. The stock hit a 52-week low of Rs 260.38 on 17 December 2014.

The mid-cap company has an equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Natco Pharma and its partner Alvogen announced today, 14 December 2015 that they have settled the patent infringement suit filed by Gilead Sciences, Inc., Hoffmann-La Roche Inc., F. Hoffmann-La Roche and Genentech, Inc. against Alvogen and Natco in New Jersey District Court. Natco Pharma and Alvogen had partnered on the first Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic versions of Tamiflu oral capsules (oseltamivir phosphate), 30 mg, 45 mg and 75 mg.

It may be recalled that USFDA had granted tentative approval to Natco Pharma for the generic oseltamivir phosphate capsules on 14 March 2014. Under the terms of the settlement, Alvogen will be able to market the oseltamivir phosphate capsules before the expiration of the pediatric exclusivity period of 23 February 2017.

On a consolidated basis, net profit of Natco Pharma declined 8.6% to Rs 29.57 crore on 7.8% rise in net sales to Rs 229.18 crore in Q2 September 2015 over Q2 September 2014.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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