Natco Pharma climbs after partner wins patent case in US

Shares of Natco Pharma jumped over 4 per cent today after the company said its partner Mylan won a US District Court ruling related to patents of multiple sclerosis drug Copaxone 40 mg/mL.
The stock settled at Rs 689.95, up 4.50 per cent on BSE. Intraday, it touched a high of Rs 700.
On NSE, shares of the company surged 4.70 per cent to end the day at Rs 690.90.
On the volume front, 0.78 lakh shares were traded on BSE and over 11 lakh shares changed hands on NSE.
Natco Pharma today said a US District Court has ruled in favour of its marketing partner Mylan by invalidating Israel-based Teva Pharmaceuticals' patents related to multiple sclerosis drug Copaxone 40 mg/mL.

"The United States District Court for the District of Delaware issued a decision finding all asserted claims of four Orange Book-listed patents related to Copaxone 40 mg/mL invalid based on obviousness," Natco Pharma said in a BSE filing.
It further said: "The invalidated patents... Are owned by Yeda Research and Development Company and licensed to Teva Pharmaceuticals Industries Ltd."
In December 2016, the US Patent and Trademark Office (PTO) had ruled in favour of Mylan and three patents related to Copaxone 40 mg/mL were found unpatentable.