MARKET EYE-Natco, Cipla up; India's top court dismisses Novartis petition

Mon Apr 1, 2013 1:49am EDT

* Shares in Natco Pharma Ltd and Cipla Ltd 
gain after India's highest court dismissed Swiss drugmaker
Novartis AG's petition seeking patent for its cancer
drug Glivec.
* In a landmark judgment that has the potential to change the
direction of India's pharmaceutical business, the Supreme Court
said on Monday that the drug failed to qualify for a patent
according to Indian law. 
* Analysts say that will be a big win for generic drugmakers
given huge difference in prices of monopoly drugs, and as other
emerging countries are also expected to follow India's top
court's decision.
* Cipla and Natco are already selling generic versions of Glivec
in India.
* Natco was up 4.2 percent, while Cipla rose 1.8 percent at 0532
GMT. 

 (abhishek.vishnoi@thomsonreuters.com /;
Kaustubh.Kulkarni@thomsonreuters.com)