Delhi High Court Upholds FMC Corp.'s Interim Injunction Plea Against Natco Pharma
The Delhi High Court upheld an interim injunction against Natco Pharma Ltd. regarding an ingredient that goes into making insecticides.
The court orally upheld the plea filed by American agri-sciences company FMC Corp., the Indian company informed exchanges on Wednesday.
In February, Natco Pharma had received approval from the Central Insecticide Board and Registration Committee for indigenous manufacture of chlorantraniliprole or CTPR, an active ingredient used for broad-spectrum insecticides for several crops. That would have made it the first local manufacturer of the product, making it affordable and accessible to Indian farmers
California-based FMC Corp., which has commercialised CTPR in Coragen and Ferterra branded products, had filed a patent infringement case against the Hyderabad-based company in November 2019.
Natco Pharma said it will review options after the full judgment is available.
Shares of Natco Pharma ended 6.72% lower on the National Stock Exchange compared with a 0.39% rise in Nifty 50.