Natco Pharma is locked in 20% upper circuit at Rs 590, also its record high on NSE, after the US Court of Appeals for the Federal Circuit ruled in the company's favour by allowing it to launch a similar version of Copaxone through its marketing partner Mylan Inc during May 2014.
"This would essentially mean that we can launch the generic Copaxone - through our marketing partner - Mylan Inc., during May 2014, subject to Food and Drug Administration (FDA) approval," the company said in a regulatory filing.
Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis.
According to industry estimates, the product had clocked revenues of about $3.45 billion in the US market in 2012.
The stock opened at Rs 539 and locked its maximum permissible limit of the day on NSE. A combined 86,670 shares have changed hands on the counter so far and there are pending buy orders for 249,363 shares on NSE and BSE at 0943 hours.
"This would essentially mean that we can launch the generic Copaxone - through our marketing partner - Mylan Inc., during May 2014, subject to Food and Drug Administration (FDA) approval," the company said in a regulatory filing.
Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis.
According to industry estimates, the product had clocked revenues of about $3.45 billion in the US market in 2012.
The stock opened at Rs 539 and locked its maximum permissible limit of the day on NSE. A combined 86,670 shares have changed hands on the counter so far and there are pending buy orders for 249,363 shares on NSE and BSE at 0943 hours.