On Thursday, Natco & Alembic trade with positive bias post Wednesday's Delhi HC ruling. Natco Pharmaceuticals Limited and Vadodara-based Alembic Pharmaceuticals Limited are trading in green on Thursday ; up by 1% and 0.8% respectively. On Wednesday the Delhi High Court allowed Natco Pharma and Alembic Pharma to export two patented drugs of Germany's Bayer Corp which were made In India under compulsory licensing.
While pronouncing his judgement on the case , Justice Rajiv Sahai Endlaw held that drugs made under compulsory licensing can be exported for research purposes. Bayer Corp previously had approached Delhi High Court in 2014 asking government to stop Natco Pharma from exporting ‘Sorafenet’ which was made under compulsory licensing.
Bayer also filed a similar plea to stop Alembic Pharmaceuticals from exporting ‘Rivaroxaban’. Under the prevailing laws export of patented drugs is allowed for research purposes. Over one year period the shares of Natco Pharma were up by nearly 60% whereas the share price of Alembic Pharmaceuticals have been flat over the same period.
The BSE healthcare index is trading weak at 15253 levels, down by 66 points or 0.4%. Dr Reddy is the top loser in the index, down by nearly 4%.