The US Supreme Court's denial may pave the way for city-based drug maker Natco Pharma to launch a generic version of Copaxone drug shortly.
Recently, the US Supreme Court had agreed to hear an appeal filed by Teva on Copaxone generic drug patent litigation case also involving Natco Pharma.
Natco shares closed at Rs 769.35 up 7.50 per cent on BSE after touching Rs 792 during intratrade.
"Supreme Court Chief Justice Roberts has denied Teva's application for an injunction seeking to prevent launch of a generic version of Copaxone pending the Supreme Court's decision on Teva's appeal. This is the second time that the Chief Justice has denied Teva's request for such an injunction," Natco informed exchanges.
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Teva further said that it will continue pursuing its appeal in the Supreme Court and defending its intellectual property for its proprietary drug.
According to Teva's annual report, the drug product clocked revenues, globally, of over USD 4.2 billion during 2013 Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis.
The drug makers involved in the generic forms of Copaxone are Novartis AG's Sandoz Inc and Momenta Pharmaceuticals Inc and Mylan Inc and Natco Pharma Ltd.