The Supreme Court today reserved its order on Swiss pharma giant Novartis AG's plea for getting its blood cancer drug Glivec patented in India.
A bench of justices Aftab Alam and Ranajan Prakash Desai reserved its verdict after marathon arguments which went on for months.
Novartis approached the apex court challenging the order of Chennai-based Intellectual Property Appellate Board (IPAB), which rejected its appeal against patent department's decision on Glivec.
The Comptroller General of Patent and Design had denied patent to Glivec on several grounds including its alleged failure to meet stipulations under sections 3(d) and 3(b) of the Indian Patent Law.
Section 3(d) restricts patents for already known drugs unless the new claims are superior in terms of efficacy.
Section 3(b) restricts patents for products that are against public interest and do not demonstrate enhanced efficacy over existing products.
Novartis India stock price
On November 27, 2015, Novartis India closed at Rs 828.25, down Rs 13, or 1.55 percent. The 52-week high of the share was Rs 982.00 and the 52-week low was Rs 539.95.
The company's trailing 12-month (TTM) EPS was at Rs 52.57 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 15.76. The latest book value of the company is Rs 313.51 per share. At current value, the price-to-book value of the company is 2.64.
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