Natco Pharma Shares Surge 6% as Delhi HC Clears Path for Generic Risdiplam Sale

Shares of

ma Ltd. soared more than 6% on October 10, buoyed by a favorable ruling from the Delhi High Court that dismissed Swiss pharmaceutical giant Roche's appeal against the Indian firm's launch of a generic version of the spinal muscular atrophy (SMA) drug Risdiplam. The decision upholds a March 2025 single-judge order, which had denied Roche's request for an injunction to block Natco's sales in India. Roche had challenged the ruling, arguing for protection of its patented drug. However, the court emphasized public interest, noting that Roche's pricing—often exceeding ₹50 lakh per dose—has made the life-saving therapy inaccessible to most patients in a country where SMA affects thousands of children annually. In its statement, Natco highlighted the single judge's consideration of a patent invalidity challenge and the urgent need for affordable alternatives. "The therapy must remain accessible," the March order stated, paving the way for Natco's generic entry at a fraction of the cost, potentially revolutionizing treatment for SMA families. This legal victory comes amid a volatile year for Natco's stock. While shares have climbed over 8% in the past six months on strong oncology and specialty drug performance, they remain down nearly 40% year-to-date, pressured by regulatory hurdles and market competition. Analysts see the Risdiplam approval as a significant boost, with Natco's market cap crossing ₹20,000 crore post-rally. The company, a key player in generics, continues to navigate IP battles with global majors to expand its portfolio in high-value therapies.