Shares of Natco Pharma Ltd. rose 3% to reach a day’s high of Rs 1,412.95 on 7th October after the company announced a settlement in the patent litigation regarding the generic version of Ozempic (semaglutide) in the United States. This drug is used for the treatment of diabetes.

Mylan Pharmaceuticals Inc. and Novo Nordisk, the original patent holder for Ozempic, have settled their US patent litigation regarding the drug, as reported by Natco Pharma in a stock exchange filing.

Natco Pharma, which collaborated with Mylan to develop generic versions of Ozempic, confirmed the settlement but did not disclose any details due to confidentiality.

Natco Pharma’s manufacturing partner, Stelis, produces the generic product.

The settlement allows Natco Pharma and Mylan to potentially enter the competitive US market for Semaglutide, which has experienced increasing demand in recent years.

In September, Natco Pharma announced that its wholly-owned Canadian subsidiary, Natco Pharma Canada Inc., invested $8 million in the US-based biotechnology firm eGenesis Inc.

This investment in eGenesis will enhance Natco Pharma’s position in innovative therapeutic programs that address critical unmet medical needs.

At 2:42 PM, the shares of Natco Pharma were trading 3.28% higher at Rs 1,398.35 on NSE.

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