Natco Pharma shares climb 7.5 per cent on bourses

Mumbai: Shares of Natco Pharma climbed 7.5 per cent after the US Supreme Court denied Teva Pharmaceuticals' application for an injunction seeking to prevent launch of a generic version of Copaxone. Natco's stock surged 7.50 per cent to settle at Rs 769.35 on the BSE.

In intra-day trade, it soared 12.92 per cent to Rs 808.15. At the NSE, the scrip rose by 7.17 per cent to Rs 765.90. Copaxone is used in the treatment of relapsing-remitting multiple sclerosis. Natco today said that Supreme Court Chief Justice Roberts has denied Teva's application for an injunction seeking to prevent launch of a generic version of Copaxone pending the court's decision on Teva's appeal.

This is the second time that the Chief Justice has denied Teva's request for such an injunction, Natco Pharma said in a filing to the BSE.