Natco Pharma Ltd has welcomed the Supreme Court’s dismissal of Novartis AG’s plea on its blood cancer drug Glivec.
Novartis filed the petition after its patent application on Glivec was rejected by the Indian Patent Office in January 2006.
"It is a welcome judgment as the court had said genuine innovation must for grant of patents,’’ P. Bhaskara Narayana, Chief Financial Officer, Natco Pharma, told
The judgment would have no adverse impact investments in the country as "it is too big market to be ignored by the multinational pharma companies," he said.
On the Natco Pharma’s cancer drug sale, he said: "Though there is no direct impact, we now continue to sell in more risk-free environment."
Natco is selling a generic version of kidney caner drug, Nexavar, in the domestic market after Indian Patents Office gave a landmark judgment in its favour in a compulsory licence dispute with Bayer.
Natco Pharma’s scrip gained 4.77 per cent on the Bombay Stock Exchange and is trading at Rs 449.50 by the lunch hour on Monday.