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Natco Pharma shares hit record high after Delhi HC dismissed Teva suit

Natco Pharma shares hit record high after Delhi HC dismissed Teva suit

Stock in Hyderabad-based Natco Pharma Ltd hit a record high of Rs 876 apiece, up 4 per cent intraday on Monday, after the Delhi High Court dismissed a suit filed against the drug maker by Teva Pharmaceutical Industries Ltd.

Israel-based Teva Pharma had sought an injunction to prevent Natco from exporting blockbuster multiple sclerosis drug Copaxone, alleging that Natco's use in India of the well-known process to produce copolymer-1 breaches Yeda's Indian Patent No. 190759("IN'759").

But, the HC dismissed the plea, saying it was not within its jurisdiction.