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NOVARTIS : RAISING HOPES FOR GLIVEC

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Novartis

Shares in Novartis India gains as much as 5.5% ahead of a Supreme Court hearing on Tuesday.

The Indian unit of Novartis AG is challenging the country’s patent office decision to refuse to grant a patent for its cancer drug Glivec.

The hearings come after a court ruled on Friday in favor of local drugmaker Cipla in a patent infringement case filed by Roche Holding.

However, the court also ruled Roche’s patent over Tarceva, the drug at the heart of the litigation, was valid in India.

The ruling raises hopes the Supreme Court will also defend Novartis’ Glivec patent in India.

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