Natco Pharma up 20% post US ruling on Copaxone patent case

Natco Pharma shares are locked at 20 percent upper circuit Monday after the healthcare firm received favourable US ruling on Copaxone patent case.

"We are pleased to announce the US Court of Appeals for the Federal Circuit ruling, reversing a district court's finding related to Teva's US patent for Copaxone," Natco said in its filing.
Copaxone (Glatiramer Acetate) is used in treatment of relapsing-remitting multiple sclerosis.
According to a release, the product is estimated to have clocked revenues in USA, of about USD 3.45 billion during 2012.
After this favourable ruling, the company may now launch generic Copaxone through its marketing partner Mylan in May 2014.
At 10:27 hours IST, the stock was quoting 52-week high of Rs 588.10 amid hefty volumes on the Bombay Stock Exchange.
It surged more than 34 percent in past one month and 65 percent in one year.