Natco Pharma sheds ~1.5% as FMC Corporation files suit for process patent

24 May 2022 , 11:40 AM

Natco Pharma Limited informed the exchanges that FMC Corporation has filed a Suit against NATCO for a Process Patent No. IN 298645 in the Delhi High Court.

Patent IN 298645 covers a Process to prepare CHLORANTRANILIPROLE (CTPR) that is set to expire on December 6, 2025.

NATCO has submitted to the Court that its CTPR process does not infringe IN 298645 and that it will launch its CTPR product after August 13, 2022, when the CTPR product patent expires with a non-infringing process.

The next hearing date for this Suit is July 18, 2022.

Following this development, Natco’s stock slipped to an intraday low of Rs686. It is currently trading at Rs694.35 against its previous close of Rs703.85 on NSE.