US court turns down Teva’s plea to block launch of Natco’s generic

Apr 22 2014, 05:36 IST
Comments 0
SummaryThe US Supreme Court has turned down Teva's application for an injunction to prevent the launch of a generic version of Copaxone by Natco Pharma

The US Supreme Court has turned down Teva's application for an injunction to prevent the launch of a generic version of Copaxone by Natco Pharma. This verdict clears the legal hurdle for Mylan and Natco to launch Copaxone. The shares of Natco surged by 13% on BSE, closing at R769.

"This is the second time that the chief justice has denied Teva's request for such an injunction,'' the company said in a notice to BSE.

Copaxone is used to treat multiple sclerosis and is the largest branded drug sold by Teva, with annual sales of over $3.2 billion in the US. Natco would market the drug along with its partner, the US-based Mylan, with which it has a global marketing alliance inked in 2008.

This would enable it to launch `at risk' a generic version of Copaxone (glatiramer acetate) in the US market, subject to US Food and Drug Administration's (USFDA) approval.

However, Teva's appeal to the court is expected in the month of October.

The R550-crore Natco, along with its partner Mylan, had in June 2008 filed an ANDA seeking approval for marketing of the generic version of the relapsing, remitting multiple sclerosis drug Copaxone and obtained a Para IV certification that essentially challenges the existing patents held by Teva Pharmaceuticals.

Ads by Google

More from Corporates & Markets

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...