Natco shares slip 4% on U.S. court order

Natco Pharma shares fell 4% to ₹925.60 apiece on Friday in the wake of a U.S. District Court ruling against the drugmaker and its marketing partner Alvogen in a patent litigation related to AbbVie subsidiary Pharmacyclics’ anti-cancer drug Imbruvica.

Natco said in a filing: “A U.S. District Court has issued a decision in favour of Pharmacyclics (a subsidiary of AbbVie), the brand owner of Imbruvica, in a Para-IV litigation involving the product.”

Natco said with Alvogen Pine Brook LLC, which is its marketing partner in the U.S. for the product, it will review the judgment and evaluate options to appeal. “We believe that we have a strong case and will continue to defend vigorously,” the company said. In 2018, Natco and Alvogen had filed an Abbreviated New Drug Application (ANDA) with Para-IV certification for the generic version of the product.

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