Natco Pharma advanced as high as 4 percent in the morning trade on October 7 on the back of settlement order in the United States patent case over generic Ozempic products. The strong up move was seen in the stock price with the scrip touching the day's high of Rs 1,408.70 per share on the NSE.
In an exchange filing, the company announced that Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide).
NATCO and Mylan are partnered on the development of generic Ozempic products.
The stock has gained after three days of consecutive fall.
The stock has delivered multibagger returns in the last two years, rising 122.04 percent in the last two years, according to the data available on the BSE index.
Earlier in April this year, the company received a warning letter from the US health regulator for its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) had issued eight observations under Form 483 after inspecting the company's Kothur-based formulation facility. The inspection was conducted by USFDA from October 9 to October 18, 2023, reported PTI.
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