Natco Pharma Surges Nearly 4% Following US Patent Settlement on Generic Ozempic with Mylan Pharma

Oct 7, 2024, 03:19 AM

Natco Pharma has seen a significant boost in its stock price, surging nearly 4%, following the announcement of a settlement in the U.S. patent litigation concerning the generic version of Ozempic. The company, in partnership with Mylan Pharma, reached an agreement with Novo Nordisk, resolving the dispute over the diabetes medication. This settlement is expected to positively impact Natco's financial performance, building on the company's recent 47% increase in net profits for the 2023-24 fiscal year, driven by the success of its patent challenges in the U.S. market.