Natco Pharma Ltd. rallied as much as 6.3 percent after a Delaware District Court Judge invalidated four patents on Teva Pharmaceutical Industries Ltd.'s multiple sclerosis drug Copaxone.
Generic-drug makers including Natco Pharma's partner Mylan NV and Novartis AG's Sandoz have filed their applications with the U.S. Food and Drug Administration (FDA) for generic versions of the drug. Copaxone had about $3.3 billion in U.S. sales in the 12 months ended November 30, Mylan said, citing IMS Health data.
Natco Pharma has a partnership with Mylan to supply active pharmaceuticals ingredients or APIs for the U.S. market.
Mylan has previously argued that it should receive an 180-day marketing exclusivity for its generic version of Copaxone since it was the first to challenge the patents with a Para IV patent certification.
The first generic company to file an abbreviated new drug application with Para IV filing is given marketing exclusivity, according to the U.S. FDA's guidelines.
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