 "Natco Pharma gets DCGI nod for hepatitis C drug; stock up 5%")
Shares of Natco Pharma were up 5% at Rs 1,882 after the company announced that it has received approvals from the Drug Controller General (India) for generic version of anti-hepatitis medicine sofosbuvir.
“Natco Pharma is pleased to announce that it is the 1st company in India to get approval for generic sofosbuvir tablets, 400mg, from Drugs Controller General (India),” the company said in a press release.
Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences, Inc., under its brand Sovaldi. Natco will market generic sofosbuvir under its brand HEPCINAT and through strategic partners in India.
Natco plans to price its generic medicine at an MRP of Rs 19,900 for a bottle of 28 tablets and expects to launch in India very soon, it added.
The company had recently signed a non-exclusive licensing agreement with Gilead Sciences, to manufacture and sell generic versions of its chronic hepatitis C medicines in 91 developing countries.
The stock opened at Rs 1,812 and touched a record high of Rs 1,891 on NSE. The trading volumes on the counter more than doubled with a combined 251,348 shares changed hands on NSE and BSE till 1113 hours.
Meanwhile, in past two weeks the shares of pharmaceutical firm has rallied 41% from Rs 1,334 on February 26, after the company signed a non-exclusive licensing agreement with Gilead Sciences.
“Natco Pharma is pleased to announce that it is the 1st company in India to get approval for generic sofosbuvir tablets, 400mg, from Drugs Controller General (India),” the company said in a press release.
Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences, Inc., under its brand Sovaldi. Natco will market generic sofosbuvir under its brand HEPCINAT and through strategic partners in India.
Natco plans to price its generic medicine at an MRP of Rs 19,900 for a bottle of 28 tablets and expects to launch in India very soon, it added.
The company had recently signed a non-exclusive licensing agreement with Gilead Sciences, to manufacture and sell generic versions of its chronic hepatitis C medicines in 91 developing countries.
The stock opened at Rs 1,812 and touched a record high of Rs 1,891 on NSE. The trading volumes on the counter more than doubled with a combined 251,348 shares changed hands on NSE and BSE till 1113 hours.
Meanwhile, in past two weeks the shares of pharmaceutical firm has rallied 41% from Rs 1,334 on February 26, after the company signed a non-exclusive licensing agreement with Gilead Sciences.