Natco Pharma advanced 1.94% to Rs 590 after the company received a favourable judgement from Delhi High Court in a patent infringement case of Chlorantraniliprole (CTPR) process.
The drug maker stated that the double bench of the High Court of Delhi has dismissed an appeal filed by FMC Corporation, FMC Singapore and FMC India and has upheld prima facie the Judgement of the single judge that the company's Chlorantraniliprole (CTPR) process does not infringe FMC's Indian Patent 298645.Previously, on 23 May 2022, the company had informed the bourses that FMC Corporation filed a suit against NATCO for the process patent IN 298645 in the Delhi High Court.
Patent IN 298645 covers a process to prepare Chlorantraniliprole (CTPR) that is set to expire on 6 December 2025.
CTPR technical process has insecticides used across a wide range of crops for pest management.
Natco Pharma is a vertically integrated and R&D focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations ("FDF") and active pharmaceutical ingredients ("APIs"). It markets and distributes products in over 40 countries.
On a consolidated basis, Natco Pharma reported 12.7% decline in net profit to Rs 320.40 crore despite of 14.6% increase in net sales to Rs 432.10 crore in Q2 FY23 over Q2 FY22.
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