Natco Pharma Ltd faced a setback in the patent infringement case with Teva Pharmaceuticals pertaining to the generic version of Copaxone. Copaxone is indicated for the treatment of multiple sclerosis.
Natco Pharma’s scrip tanked 5.59 per cent to end at Rs 352 on the Bombay Stock Exchange on Monday. In a ruling delivered on June 22, the US District Court, New York, had upheld the contention of Teva Pharmaceuticals that Natco’s abbreviated new drug application (ANDA) for the generic version of Copaxone infringed all of Teva’s asserted claims.
The Hyderabad-based company had filed an ANDA for Copaxone with its partner, Mylan Inc, in June 2008, and obtained a Para IV certification which challenged the existing patents held by Teva.
“Natco is disappointed with the court’s decision. While the company has not yet had the opportunity to review the court’s opinion, it will fully investigate all available options for appeal,” Natco said in a release on Monday.