The legal hurdles impeding the launch of a generic version of multiple sclerosis (MS) drug Copaxone by Natco Pharma have been cleared.
The US Supreme Court has dismissed a plea by Teva Pharmaceuticals, which holds the patent for Copaxone, to stay a lower court’s ruling, according to a release issued by Hyderabad-based Natco.
The lower court ruling had favoured Natco Pharma (which teamed up with Mylan) and Momenta Pharmaceuticals and its partners.
This is the second time that the court has denied Teva’s plea, Natco said in a release.
Big seller Copaxone (Glatiramer Acetate) had registered a revenue of $4.2 billion in the US in 2013.
According to analysts, the opportunity on the Copaxone generic could be “huge” for Natco due to low competition in the market as a result of product complexity and the delayed entry of new players.
Teva’s Copaxone patents expiring in September 2015 were held invalid by a US court in July 2013, making a generic entry possible in May this year, when the remaining patents expire.
Natco’s scrip gained 7.50 per cent on the BSE on Monday to close at ₹769.35.