Natco may appeal US court ruling against Copaxone generic

Natco Pharma shares tumbled over 6% on Monday after a US court upheld Teva Pharmaceuticals' contention that the Indian drug maker's application for a generic version of Copaxone infringed all asserted claims of Teva, the world's largest generic drugs maker.

A US District Judge upheld Teva's patents for the drug, indicated for the treatment for multiple sclerosis, on Friday.

The Israel-based company had filed a suit against several companies -- Momenta Pharmaceuticals, Sandoz, Mylan Laboratories and Natco -- for infringement of multiple patents for Copaxone, which is expected to generate around USD 3.8 billion of its USD 20-$21 billion revenue in 2012.

Natco with its partner Mylan had filed an ANDA (abbreviated new drug application) with US Food and Drugs Administration (FDA) seeking approval for marketing a copy of Copaxone in June 2008 and had obtained a para IV certification, which challenged existing Teva's patents.

Hyderabad-based Natco is not satisfied with the court ruling and may appeal.

"Natco is disappointed in 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 once the court's full opinion becomes available," it said on Monday.

Natco shares were down 5.8% at Rs 352.35 on NSE in late morning trade.

Nachiket Kelkar
nachiket.kelkar@moneycontrol.com