Natco Pharma’s scrip continued to surge on the bourses for a fifth day in a row.
The stock gained 5.79 per cent in the opening trade at Rs 2,080 and is trading at Rs 2,176 around noon on the Bombay Stock Exchange.
The Hyderabad-based company’s scrip had witness lot of action in the last six days and has gained nearly 40 per cent. While the stock price was hovering at Rs 1,500 on March 10, it had reached Rs 2,056.85 on Thursday.
The increase in share prices was after the US Supreme Court refused to intervene in an ongoing patent dispute of the company with regard to Tamiflu, a drug indicated for the treatment of influenza.
Subsequently, Natco Pharma also received approval for generic sofosbuvir tablets from the Drugs Controller General of India and was the first to received approval for this drug. Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences, Inc.