Jun 15, 2012, 07.03 PM IST | Source: PTI

Alembic settles patent case with Novartis

Alembic Pharmaceuticals today said it along with Breckenridge Pharmaceutical Inc, USA has settled patent case with Novartis for Rivastigmine Tartrate capsules used for treating dementia.

Alembic Pharmaceuticals today said it along with Breckenridge Pharmaceutical Inc, USA has settled patent case with Novartis for Rivastigmine Tartrate capsules used for treating dementia.

The companies have settled their Paragraph IV patent litigation with Novartis for Rivastigmine Tartrate capsules which are a generic version of Exelon capsules of Novartis, Alembic Pharmaceuticals said in a filing to BSE.

Under the terms of the settlement agreement, Novartis has granted the two companies a licence to market their generic capsules before the date of the patent expiry, it added. The companies will launch the product immediately in the American market, Alembic Pharmaceuticals said.

United States Food and Drug Administration (USFDA) has approved their abbreviated new drug application (ANDA). While the Indian firm is the sponsor and manufacturer of the ANDA, the product will be marketed exclusively by Breckenridge.

Rivastigmine Tartrate capsules are prescribed for mild to moderate dementia of Alzheimer's type and mild to moderate dementia associated with Parkinson's disease, the company said. The product will be available in the strengths of 1.5 mg, 3 mg, 4.5 mg and 6 mg, it added.

Shares of Alembic Pharmaceuticals today closed at Rs 53.70 a piece on BSE, up a steep 4.58% from its previous close.

Alembic Pharma stock price

On April 17, 2014, Alembic Pharmaceuticals closed at Rs 269.80, up Rs 0.45, or 0.17 percent. The 52-week high of the share was Rs 309.90 and the 52-week low was Rs 108.75.


The company's trailing 12-month (TTM) EPS was at Rs 11.72 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 23.02. The latest book value of the company is Rs 24.39 per share. At current value, the price-to-book value of the company is 11.06.

Set email alert for
Alembic Pharma Novartis India

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

576.23 -7.75 -1.33%

62344

Bought today

170682

Sold today

0.31%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.