Natco Pharma and its US partner Allergan have settled a pending litigation with biopharmaceutical firm Celgene regarding generic Lenalidomide capsules used for treatment of multiple myeloma.
"Celgene has agreed to provide Natco with a license to Celgene's patents required to manufacture and sell an unlimited quantity of generic Lenalidomide in the United States beginning January 31, 2026," Natco Pharma said in a filing to BSE.
In addition, Natco will receive a volume-limited license to sell generic Lenalidomide in the United States commencing in March 2022, it added.
Natco quoting Celgene website said Revlimid capsules had recorded sales of nearly $3.4 billion in the US market for the year ending September 2015.
"The volume limit is expected to be a mid-single-digit percentage of the total Lenalidomide capsules dispensed in the United States during the first full year of entry", Natco said.
The volume limitation is expected to increase gradually each twelve months until March 2025, and is not expected to exceed one-third of the total Lenalidomide capsules dispensed in the US in the final year of the volume-limited license, it added.
Myeloma, also known as multiple myeloma, is a cancer arising from plasma cells, a type of white blood cell which is made in the bone marrow.
Shares of Natco Pharma were trading at Rs 576.05 per scrip in the afternoon trade on BSE, up 2.20 per cent from the previous close.