SPARC zooms 6% after US-based firm withdraws patent infringement complaint

In August this year, Abraxis Biosciences LLC had alleged that SPARC's filing of NDA or Taclantis injection is an act of infringement of the Orange Book listed patents for Abraxane.

Sun Pharma Advanced Research Company (SPARC) jumped 5.6 per cent to Rs 162.40 on the BSE on Monday after the company said Abraxis Biosciences LLC has dismissed the patent infringement complaint filed against it regarding the company's New Drug Application (NDA) for PICS (Paclitaxel Injection Concentrate for Suspension). 

“We are very pleased that Abraxis Bioscience LLC. has withdrawn its infringement claims paving the way for a successful launch as and when we receive necessary regulatory approvals,” said Anil Raghavan, chief executive officer (CEO) of SPARC in a statement. READ HERE

SPARC will also inform the USFDA of the dismissal