Natco Pharma Ltd and Breckenridge dismissed from antitrust lawsuit

Natco Pharma Limited (NSE: NATCOPHARM; BSE: 524816) vide its disclosure dated 8th September 2023, has informed that Celgene Corporation, Bristol Myers Squibb Company, Breckenridge Pharmaceutical Inc. and Natco Pharma Limited have been named defendants in an antitrust lawsuit in the US by Louisiana Health Service & Indemnity Company D/B/A Blue Cross and Blue Shield of Louisiana and HMO Louisiana, Inc., regarding Pomalidomide (POMALYST) capsules.

The plaintiffs voluntarily dismissed Breckenridge Pharmaceutical Inc. and Natco Pharma Limited from the case. All claims against the Company in the litigation have now been dismissed.

Breckenridge is the ANDA holder and front-end marketing partner for the Pomalidomide capsules generic product in the US.

Natco's Pomalidomide capsules generic product has not yet launched in the US.

Shares of Natco Pharma Limited was last trading in BSE at Rs. 778.70 as compared to the previous close of Rs. 777.40. The total number of shares traded during the day was 27251 in over 2979 trades.

The stock hit an intraday high of Rs. 784.65 and intraday low of 774.00. The net turnover during the day was Rs. 21228804.00.

Source : Equity Bulls

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