Shares of Natco Pharma gained over 3% in a weak market today after the company received a favourable judgement from Delhi High Court in a patent infringement case of Chlorantraniliprole (CTPR) process. Natco Pharma stock rose 3.51% to Rs 599.05 today against the previous close of Rs 578.75 on BSE.
Shares of Natco Pharma are trading higher than the 5-day and 20-day moving averages but lower 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 BSE. The stock has lost 29.75% in a year and fallen 35.38% in 2022. In a month, the stock is down 6.6%.
Total 0.16 lakh shares of the firm changed hands amounting to a turnover of Rs 95.17 lakh in the afternoon session. 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 January 17, 2022 and a 52-week low of Rs 559 on November 30, 2022 on 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 has upheld prima facie the Judgement of the single judge that the company’s Chlorantraniliprole (CTPR) process does not infringe FMC’s Indian Patent 298645.
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On May 23, 2022, the company said that FMC Corporation filed a suit against NATCO for the process patent IN 298645 in the Delhi High Court.
Patent IN 298645 covers a process to prepare Chlorantraniliprole (CTPR) that is set to expire on December 6, 2025.
CTPR technical process has insecticides used across a wide range of crops for pest management.
Natco Pharma is a vertically integrated, research and development (R&D)-focused pharmaceutical company. The company is engaged 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).