Natco Pharma rose 5.87% to Rs 2,198.30 at 12:11 IST on BSE after the US Court of Appeals found Teva Pharmaceuticals' patent for drug Copaxone as invalid.
Meanwhile, the BSE Sensex was up 218.54 points, or 0.81%, to 27,334.37.
On BSE, so far 37,000 shares were traded in the counter, compared with an average volume of 10,000 shares in the past two weeks.
The stock hit a high of Rs 2,240 and a low of Rs 2,098 so far during the day. The stock hit a 52-week high of Rs 2,709 on 7 April 2015. The stock hit a 52-week low of Rs 941 on 30 June 2014.
Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis.
Natco Pharma announced during trading hours today, 19 June 2015, that the US Court of Appeals for Federal Circuit has again found Teva's US "patent no. 5.800.808 (the 808 patent)" for Copaxone to be invalid as indefinite. The company awaits US Food and Drug Administration (USFDA) approval to launch the product, Natco said.
According to reports, Copaxone accounted for $3.1 billion out of Teva's total revenue of $15.1 billion in the first nine months of the past year.
Net profit of Natco Pharma rose 126.64% to Rs 54.44 crore on 9.71% rise in net sales to Rs 195.13 crore in the quarter ended March 2015 over the quarter ended March 2014.
Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.
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