Shares of Natco Pharma rose by nearly 3 per cent today as the company and its partner Alvogen have settled patent infringement suit with Gilead Sciences Inc and others over Tamiflu in a US court.
The stock gained 2.88 per cent to settle at Rs 547.50 on BSE. During the day, it climbed 4.1 per cent to Rs 554.
On NSE, shares of the company ended at Rs 546.75, up 2.65 per cent from its previous close.
"Natco Pharma Ltd and Alvogen... Have settled the patent infringement suit filed by Gilead Sciences Inc, Hoffmann-La Roche Inc, F Hoffmann-La Roche Ltd and Genentech Inc... In New Jersey District Court," Natco said in a regulatory filing.
Tamiflu is used in the treatment of bird and swine-flu infections.
Natco and Alvogen partnered on the first Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (FDA) for generic versions of Tamiflu oral capsules (oseltamivir phosphate) of 30 mg, 45 mg and 75 mg strengths.
