Natco down on 'suit'

Natco Pharma is down in the red, opening lower from its close of yesterday at Rs.703 and going down to an intraday low at Rs.686.75 and now trading at Rs.694 levels.

The company has informed the exchanges that FMC Corporation has filed a suit against Natco for a Process Patent # IN 298645 in the Delhi High Court today.

Patent IN 298645 covers a Process to prepare chlorantraniliprole (CTPR) that is set to expire on December 6, 2025.

Natco has submitted to the Court that its CTPR process does not infringe IN 298645 and that it will launch its CTPR product after August 13, 2022, when the CTPR product patent expires with non-infringing process. The next hearing date in this suit is July 18, 2022.