Drug firm Natco Pharma's stock on Monday closed higher in trade today after it said the US Court of Appeals has affirmed Teva's Copaxone dosing patents in the strength of 40 mg/ml as invalid.
The Natco Pharma stock closed 5.57% or 37 points higher at 717.05 on the BSE.
The stock has been gaining for the last two days and has risen 8.36% during the period. The stock hit an intra day high of 733.70 (8.02%) in trade today. The midcap stock has fallen 27.24% during the last one year and gained 25.39% since the beginning of this year.
"United States Court of Appeals for the Federal Circuit has affirmed the District of Delaware's decision that Teva's Copaxone 40 mg/ml dosing patents are invalid as obvious," Natco Pharma said in a filing to the BSE.
The Federal Circuit also affirmed the final written decisions issued by the Patent Trial and Appeal Board (PTAB) in three inter parties reviews filed by Natco's marketing partner Mylan related to the same patents, it added.
"These were the last remaining patent infringement cases Mylan was defending in the US relating to Glatiramer Acetate injection 40mg/ml," Natco Pharma said.
Copaxone is the most prescribed multiple sclerosis (MS) treatment for relapsing forms of multiple sclerosis in the US with brand sales for the 20 mg/ml dose of around $527 million and for the 40 mg/ml dose of about $2.86 billion for the 12 months ending August 31, 2018.
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