Natco Pharma shares soar over 7% on nod for Tamiflu drugs

Shares of Natco Pharma on Thursday advanced by over 7 per cent following the company receiving final approval for its Abbreviated New Drug Application (ANDA) for generic versions of Tamiflu oral capsules from the US Food and Drug Administration.

The scrip surged 7.33 per cent to Rs 650.90 — its one year high level — on BSE. At NSE, it moved up by 6.89 per cent to touch its 52-week high of Rs 650.

Natco Pharma Ltd today said it has received final approval for its ANDA for generic versions of Tamiflu oral capsules (Oseltamivir Phosphate), 30 mg, 45 mg and 75 mg, from the USFDA.

"Natco and its marketing partner Alvogen are the first generic players to receive this approval," Natco said in a regulatory filing.

Tamiflu is used to treat the flu (influenza) in people from two weeks of age and older who have had flu symptoms for no more than two days. Tamiflu can also reduce the chance of getting the flu in people one year and older.