Shares of Natco Pharma surged over 9 per cent after the US Supreme Court declined a review of a federal circuit court ruling that favoured the company in a patent infringement litigation over swine flu treatment drug Tamiflu.
The stock gained sharply by 9.09 per cent to settle at Rs 1,792.05 on the BSE. During the day, it jumped 10.48 per cent to Rs 1,815 -- its 52-week high.
On the NSE, it soared 9.17 per cent to settle at Rs 1,797.
The company's market valuation rose by Rs 496.85 crore to Rs 5,955.85 crore.
The firm had said it is "pleased with the US Supreme Court's decision to deny certiorari for the generic version of Tamiflu oral capsules (oseltamivir phosphate)".
The denial was issued on March 9 in the case of Gilead Sciences Inc et al v Natco Pharma Limited et al No 14-647, Natco Pharma had said in a filing to the BSE yesterday.
