The US Supreme Court has agreed to hear an appeal filed by multinational drug major Teva Pharmaceuticals on Copaxone generic drug patent litigation case also involving Hyderabad-based Natco Pharma.
Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis.
Last year, US Court of Appeals for the Federal Circuit reversed a district court's earlier finding related to Teva's US Patent for the drug.
The Appeals Court's ruling allowed the Indian drug maker along with its marketing partner to launch the generic Copaxone in May 2014, subject to FDA approval.
Natco shares crashed nearly 15 per cent to Rs 677.90 during afternoon trading on the BSE.
"...That the US Supreme Court agreed to hear appeal in a patent fight on Copaxone. The company continues to believe that Teva's 808 patent is invalid for indefiniteness," Natco said in a statement.
The drug makers involved in generic forms of Copaxone are Sandoz Inc and its partner Momenta Pharmaceuticals Inc and Mylan Inc and its partner Natco Pharma Ltd.
Branded Copaxone reportedly has accounted for about 20 per cent of sales and 50 per cent of its profits of Teva, the world's largest generic drug maker.
According to Teva's annual report, the drug product is estimated to have clocked revenues, in USA, of over USD 4.2 billion during 2013.
Teva in a press statement said the court has agreed to hear its appeal and Teva remains committed to pursuing all options to protect its intellectual property for Copaxone.
