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Teva Pharmaceutical Industries Limited (TEVA) Copy to Boost Billionaire-Backed Drugmaker


9/18/2013 7:18:04 AM

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Natco Pharma Ltd. (NTCPH), an Indian drugmaker backed by billionaire Dilip Shanghvi, says its sales will jump 62 percent in two years once it starts selling a generic version of Copaxone, a treatment for multiple sclerosis. The company is likely to receive U.S. Food and Drug Administration approval to make the copy in May next year, Chief Executive Officer Rajeev Nannapaneni said in an interview. Teva Pharmaceutical Industries Ltd. (TEVA), which owns the rights for Copaxone, suffered a setback in July after a U.S. court ruling gave the $4 billion drug less than a year of patent protection.

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