Pfizer wins patent battle, stock up by 8 percent
Pfizer Ltd., the Indian unit of the world's biggest drug-maker, has become the first MNC Company to obtain a patent in India. The company won the patent battle after a long tussle between multinational drug companies and patent groups in India.
As per information from reliance sources Pfizer was granted patent Number 204132 for Maraviroc. Maraviroc is the first drug in new class of oral HIV medicines developed in the last ten years. Experts believe that the drug has a potential to become a blockbuster HIV/AIDS drug globally. The patent was granted in India based on the patent application 885/BOM/1999 filed with the Bombay patent office.
Pfizer's Maraviroc, the generic name for Selzentry, is a second-line treatment for HIV. The drug can be used by patients who are resistant to primary drugs. Selzentry works against AIDS by blocking a protein on the surface of cells in the immune system that HIV uses to enter and kill the cells.
The stock closed today at Rs. 776.10 on NSE, up by 8% from its previous close of Rs. 717.80. The stock touched an intraday high of Rs. 824.00 and low of Rs. 740.