Delhi HC allows Natco to sell Sunitinib, shares up 6%

Healthcare firm Natco Pharma rallied nearly 6 percent to hit an intraday high of Rs 446.75 on Wednesday after the Delhi High Court allowed the company to manufacture and sell anti-cancer drug Sunitinib.
HC vacated its stay on making and selling Sunitinib drug yesterday since this drug is now no longer patent protected. The court had stayed launch of generic Sunitinib by Natco in June 2012 while Pfizer’s patent on Sunitinib was revoked in October 2012.

At 13:06 hours IST, shares gained 3.29 percent to Rs 435.90 on Bombay Stock Exchange.

The share touched its 52-week high Rs 505.20 and 52-week low Rs 342.00 on 20 December, 2012 and 23 March, 2012, respectively.

Currently, it is trading 13.72% below its 52-week high and 27.46% above its 52-week low