Alongside the settlement, Novo and Viatris have asked the U.S. Patent and Trademark Office to terminate its review of the validity of the Danish drugmaker’s semaglutide patents.

The strong up move was seen in the stock price with the scrip touching the day's high of Rs 1,408.70 per share on the NSE, rising 4 percent.

Mylan Pharmaceuticals Inc and Novo Nordisk, the original patent holder for Ozempic, have reached a settlement in the US patent litigation concerning the drug, Natco Pharma informed the stock exchanges in a filing.

Hyderabad: NATCO Pharma Limited has announced that its partner Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of the U.S. patent litigation related to generic

According to data from the BSE index, the stock has achieved multibagger gains over the last two years, climbing 122.04%.

Mylan and Novo Nordisk have reached a confidential settlement over the generic version of Ozempic, with Natco Pharma holding Sole First-to-File (FTF) status for multiple strengths of Ozempic and Wegovy.

According to a report by news agency PTI, NATCO and Mylan have partnered for the development of generic Ozempic (Semaglutide) products, the company said in a regulatory filing. Ozempic is a prescription medication patented by Novo Nordisk.