Natco Pharma’s stock dropped by 5.34 percent because the company is facing a lawsuit in the United States related to a medicine called Pomalidomide.
The lawsuit was filed by Louisiana Health Service & Indemnity Company and HMO Louisiana Inc. They are suing several companies, including Celgene Corporation, Bristol Myers Squibb, Breckenridge Pharmaceutical, and Natco Pharma.
Back in November 2020, Natco and its marketing partner Breckenridge Pharmaceutical received approval from the US Food and Drug Administration to sell Pomalidomide capsules. They had also resolved a patent dispute with Celgene, which is now part of Bristol-Myers Squibb and sells Pomalidomide capsules in the US under the brand name Pomalyst.
Pomalidomide, similar to thalidomide, is used in combination with dexamethasone to treat multiple myeloma in patients who have undergone at least two previous treatments, including lenalidomide and a proteasome inhibitor, and have shown disease progression within 60 days of completing the last treatment.
Source: The Hindu