Natco Pharma rose 3.39% to Rs 1400.60 after the company announced a settlement in the U.S. patent litigation for generic Ozempic.
Natco Pharma announced that its partner, Mylan Pharmaceuticals Inc., reached a settlement with Novo Nordisk in the ongoing U.S. patent litigation related to generic Ozempic (Semaglutide). The terms of the agreement remain confidential.
Natco and Mylan have been collaborating on the development of generic Ozempic products, and Stelis serves as Indian drug maker’s manufacturing partner. The settlement marks a significant step forward in their efforts to bring a generic version of this popular diabetes medication to market.
Ozempic, a glucagon-like peptide-1 (GLP-1) receptor agonist, has gained widespread popularity for its effectiveness in managing type 2 diabetes and promoting weight loss. A generic alternative could offer patients more affordable treatment options.
Hyderabad-based Natco Pharma is a vertically integrated pharmaceutical company. The companys consolidated net profit surged 59.05% year-on-year to Rs 668.5 crore in the first quarter of the current fiscal year (Q1 FY25), while revenue from operations increased by 19.47% to Rs 1,362.6 crore compared to the same period last year (Q1 FY24).
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First Published: Oct 07 2024 | 3:28 PM IST
