Natco Pharma stock rises 3% on favourable verdict in patent infringement case

Spread the love

Natco Pharma shares gained over 3% in a weak market today after the company secured a favorable judgment from the Delhi High Court in a patent infringement case for Chlorantraniliprole (CTPR) process. Natco Pharma stock today rose 3.51% to Rs 599.05 against previous close of Rs 578.75 on BSE.

Natco Pharma share is trading above 5-day and 20-day moving averages but below 50-day, 100-day and 200-day moving averages. They opened at Rs 586.15 against previous close of Rs 578.75 on BSE. The stock is down 29.75% in one year and 35.38% in 2022. The stock is down 6.6% in one month.

A total of 0.16 lakh shares of the firm traded at Rs 95.17 lakh in the afternoon session. The market cap of the firm rose to Rs 10,660 crore on BSE. The stock hit a 52-week high of Rs 942.15 on Jan 17, 2022 and a 52-week low of Rs 559 on Nov 30, 2022 on BSE.

The drug maker said a division bench of the Delhi High Court has dismissed an appeal filed by FMC Corporation, FMC Singapore and FMC India and has upheld the prima facie single judge’s decision that the company’s Chlorantraniliprole (CTPR) process is not infringing. Does Indian Patent 298645 of FMC.

Read also: Share Market News Live: Sensex falls over 300 points, Nifty tests 18,600; Hindalco, Tata Steel, JSW Steel declined

Patent IN 298645 covers a process for preparing chlorantraniliprole (CTPR) which is set to expire on December 6, 2025.

The CTPR technology process uses insecticides for pest management on a wide range of crops.

Natco Pharma is a vertically integrated, Research and Development (R&D)-focused pharmaceutical company. The company is engaged in the development, manufacturing and commercialization of complex pharmaceuticals for niche therapeutic areas. The company deals in the production of ready-dose formulations (FDFs), which it sells in India, the United States and the rest of the world, as well as active pharmaceutical ingredients (APIs).

Source link

Spread the love

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.