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Natco Pharma surges as US court invalidates Teva's Copaxone patent

The stock rallied 6% to Rs 2,204 on the BSE.

SI Reporter  |  Mumbai 

Natco Pharma

Shares of Natco Pharma has surged 6% to Rs 2,204 on the BSE after a US appeals court on Thursday once again invalidated a patent held by Teva Pharmaceutical Industries on its top-selling multiple sclerosis drug Copaxone, clearing the way for the launch of a cheaper, generic version.

“U.S. Court of Appeals for Federal Circuit has again found Teva’s U S Patent No. 5,800,808 (‘the 808 patent”) for Copaxone to be invalid as indefinite,” Natco Pharma said in press release.

The company awaits United States Food and Drug Administration (USFDA) approval to launch the product, it added.

The 2-1 decision by the US Court of Appeals for the Federal Circuit, the nation's top patent tribunal, was a blow to Israel's Teva in its seven-year fight against two generic drugmakers over the patent protections for Copaxone, the Reuters report suggests. CLICK HERE TO READ REPORT.

The stock opened at Rs 2,098 and touched high of Rs 2,240 on the BSE. A combined 230,000 shares changed hands on the counter on the BSE and NSE till 1155 hours.

First Published: Fri, June 19 2015. 11:53 IST