Natco Pharma announced that US Supreme Court chief justice Roberts has denied Teva's application for an injunction seeking to prevent launch of a generic version of Copaxone pending the Supreme Court's decision on Teva's appeal.

This is the second time that the chief justice has denied Teva's request for such an injunction.

At issue is a July 2013 ruling by the US court of appeals for the federal circuit in favor of two teams developing cheaper generic forms of Copaxone: one comprising Novartis AG's Sandoz and Momenta Pharmaceuticals, and the other comprising Mylan and Natco Pharma.

In his decision on Friday, Roberts, in a brief opinion, wrote that he was not convinced Teva had shown the 'likelihood of irreparable harm' if the application was denied, because if Teva wins the Supreme Court case it can seek damages from the generic companies for past infringement on its patents.

Teva still has the option of asking another justice for a stay, but such requests are rarely granted.

Shares of the company gained Rs 54.35, or 7.59%, to trade at Rs 770. The total volume of shares traded was 74,926 at the BSE (11.02 a.m., Monday).