Novartis gains on getting patent right
Tuesday, 12 January 2010
MUMBAI, Jan 11 (Business Standard): Novartis finally ended with a Rs 21 or 3.6 per cent gain at Rs 590. Around 30,063 shares changed hands at the counter today.
Novartis has soared as it has got the patent right for Nilotinib, a a superior version of blood cancer drug Gleevec.
The stock opened at Rs 580 and soared to a high of Rs 600. The stock is now trading at Rs 593, up 4 per cent from its previous close. The counter has clocked volumes of 1,872 shares on the BSE.
It has been engaged in a legal battle with the government on the latter's decision to deny patent protection for Gleevec.
Novartis has soared as it has got the patent right for Nilotinib, a a superior version of blood cancer drug Gleevec.
The stock opened at Rs 580 and soared to a high of Rs 600. The stock is now trading at Rs 593, up 4 per cent from its previous close. The counter has clocked volumes of 1,872 shares on the BSE.
It has been engaged in a legal battle with the government on the latter's decision to deny patent protection for Gleevec.