Natco Pharma shares gain 3% after HC dismisses patent infringement case

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

Natco Pharma's shares are trading higher than the 5 day and 20 day moving averages but are less than 50 day, 100 day and 200 day moving averages. They opened at Rs 586.15 against the previous close of Rs 578.75 on the BSE. The stock fell by 35.38% in a year and 29.75% in a year. The stock is down 6.6% in a month.

The firm's shares changed hands in the afternoon, with a turnover of Rs 95.17 lakh. The firm's market cap has gone up to Rs 10,660 crore on the BSE. The stock hit a 52 week high of Rs 942.15 on January 17, 2022 and a 52 week low of Rs 559 on November 30, 2022 on the BSE.

The drug maker said that the double bench of the High Court of Delhi has dismissed an appeal filed by FMC Corporation, FMC Singapore and FMC India and upheld the Judgement of the single judge that the company's Chlorantraniliprole CTPR process does not infringe FMC's Indian Patent 298645.

On May 23, 2022, the company said FMC Corporation filed a lawsuit against NATCO for the process patent IN 298645 in the Delhi High Court.

The patent IN 298645 covers a process to prepare Chlorantraniliprole CTPR that is due to expire on December 6, 2025.

The technical process of CTPR has insecticides used in a wide variety of crops for pest management.

Natco Pharma is a research and development research and development R&D focused pharmaceutical company. The company is involved in the development, manufacture, and commercialisation of complex pharmaceuticals catering to niche therapeutic areas. The company deals in the production of finished dosage formulations FDF, which it sells in India, the United States and the rest of the world, as well as active pharmaceutical ingredients APIs.