NATCO Pharma stock rises most on US court ruling

The NATCO Pharma stock rose the most on the BSE after the US Supreme Court declined a review of a federal circuit court ruling that favoured Natco Pharma in a patent infringement litigation over swine flu treatment drug Tamiflu.

The stock rose 9.09 per cent or 149 points on the BSE to close at  Rs 1792.05.

The Hyderabad-based firm said on Tuesday it is "pleased with the US Supreme Court's decision to deny certiorari for the generic version of Tamiflu oral capsules (oseltamivir phosphate)".

The denial was issued on March 9 in the case of Gilead Sciences Inc et al v Natco Pharma Limited et al No 14-647, Natco Pharma said in a filing to BSE.

"In the April 22, 2014 Federal Circuit decision, Circuit Judges Chen and Prost agreed with Natco and Alvogen's position that an earlier filed and earlier expiring patent qualifies as an obviousness-type double patenting reference for a later filed, and later expiring patent," Natco Pharma said.

The Supreme Court has declined to review the Federal Circuit's decision.

The case remains pending in the District of New Jersey where the validity of U S Patent No 5,763,483 continues to be challenged, it added.

(With PTI inputs)