Natco jumps 5% after US partner files ANDA for Everolimus

Natco's US partner Breckenridge Pharmaceutical has filed ANDA for Everolimus tablets in dosages of 0.25mg, 0.5mg, and 0.75mg.

Shares of Natco Pharma were locked in 5% upper circuit at Rs 1,439 after the company said its marketing partner in the US, Breckenridge Pharmaceutical, Inc. (BPI), has filed an Abbreviated New Drug Application (ANDA) for Everolimus for tablets in dosages of 0.25mg, 0.5mg, and 0.75mg.

Novartis AG sells Everolimus 0.25mg, 0.5mg, and 0.75mg Tablets under Brand name Zortress in the USA market. Zortress is used to prevent organ rejection after a kidney or liver transplant.

Zortress generated sales of $43.5 million for the twelve-month period ending July 2014, based on industry sales data.

The stock opened at Rs 1,371 and touched a high of Rs 1,439. Over 90,000 shares were traded on both the stock exchanges so far and there were pending buy orders  for 3,682 shares as of now.