Natco Pharma settles US patent case over generic Ozempic

7 Oct 2024 , 01:52 PM

Natco Pharma rose as much as 4% in morning trading on October 7, following a settlement ruling in the United States patent litigation involving generic Ozempic products. The stock price surged, reaching a day high of ₹1,408.70 a share on the NSE.

In an exchange filing, the firm disclosed that Mylan Pharmaceuticals Inc. and Novo Nordisk had achieved an agreement to settle their US patent litigation over generic Ozempic (Semaglutide).

NATCO and Mylan collaborated on the development of generic Ozempic drugs.

According to data from the BSE index, the stock has achieved multibagger gains over the last two years, climbing 122.04%.

In April of this year, the business received a warning notice from the US health authorities for its production factory in Telangana. The US Food and Drug Administration (USFDA) issued eight Form 483 observations during an inspection of the company’s Kothur-based formulating facility. The US FDA conducted the examination from October 9 to October 18, 2023, according to reports.

At around 12.38 PM, Natco Pharma was trading 2.44% higher at ₹1,387 per piece, against the previous close of ₹1,353.95 on NSE. The counter touched an intraday high and low of ₹1,412.95, and ₹1,350.10, respectively.

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