Natco Pharma Ltd

Natco Pharma on Tuesday said its consolidated net profit jumped 83 per cent on-year to Rs 676 crore in the September 2024 quarter, aided by robust sales. The drug maker reported a net profit of Rs 369 crore in the July-September period of last fiscal. Revenue from operations rose to Rs 1,371 crore as compared with Rs 1,031 crore in the year-ago period, the company said in a regulatory filing. "The company has shown continued strong growth during the second quarter driven by exports formulation business and stable domestic pharmaceutical business," it stated. The company said its board has declared a second interim dividend of Rs 1.5 per equity share of Rs 2 each for financial year 2024-25. Shares of the drug firm ended 0.19 per cent down at Rs 1,393.15 apiece on the BSE.

Natco Pharma share rose after the company announced that Mylan Pharmaceuticals Inc & Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide)

Natco Pharma is the first company to have filed a substantially complete ANDA for a generic cancer drug

Natco Pharma on Tuesday said it has received a warning letter from the US health regulator for its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) had issued eight observations under Form 483 after inspecting the company's Kothur-based formulation facility. The inspection was conducted by USFDA from October 9 to October 18, 2023. "We wish to inform you that the company has received a warning letter dated April 8, 2024 from the USFDA," the drug firm said in a regulatory filing. The company does not believe that the warning letter will have an impact on supplies or the existing revenues from this facility, it added. "It may cause delay/withholding of pending product approvals from this site," Natco Pharma said. The drug firm will respond to the letter within the stipulated timelines and work closely with the USFDA to address the concerns in a holistic and timely manner to ensure sustained compliance, it said. A warning letter is issued when the US

Natco Pharma on Tuesday reported an over six-fold jump in its consolidated net profit to Rs 369 crore in the second quarter ended September 30, 2023. The Hyderabad-based drug firm had reported a net profit of Rs 57 crore in the July-September period of last fiscal. Consolidated total revenue rose to Rs 1,061 crore for the period under review, as compared with Rs 453 crore in the year-ago period, Natco Pharma said in a regulatory filing. The company reported strong performance during the quarter due to growth in formulation exports and increased sales in the domestic agrochemical business, it added.

Natco Pharma Ltd on Friday said it has launched additional strengths for its generic lenalidomide capsules used in the treatment of multiple myeloma, in the US. The company has launched 2.5 mg, and 20 mg strengths of the generic version of Revlimid (lenalidomide capsules) through its marketing partner Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd, Natco Pharma said in a regulatory filing. "With this launch the companies (have) made available all the strengths of lenalidomide in the US market," it added. Lenalidomide capsules are a prescription medicine used in adults for the treatment of multiple myeloma, the filing said.

The drug major filed an abbreviated new drug application (ANDA) for generic versions of Olaparib tablets - 100 mg and 150 mg with the US Food and Drug Administration (USFDA)

Its consolidated revenue from operations during the quarter under review stood at Rs 884.6 crore compared to Rs 410.3 crore in the same period last fiscal, it added.

In the past three months, Natco Pharma has outperformed the market by gaining 8 per cent, as compared to 8 per cent decline in the S&P BSE Sensex.

Natco Pharma Ltd on Thursday said it has signed a non-exclusive license agreement with the Medicines Patent Pool (MPP), Switzerland to manufacture and sell Molnupiravir capsules 200 mg for treatment of COVID-19. MPP had taken licence from Merck Sharp & Dohme Corp (MSD), USA for the same, the company said in a statement. Natco said with this licence agreement it can manufacture and sell Molnupiravir capsules 200 mg for Indian market, which will be sold under brand name MOLNUNAT for treatment of COVID-19 infection in patients who have high risk of progression of the disease including hospitalisation or death. It further said, "This agreement allows Natco to expand access to COVID-19 medicines in 105 countries in generic name. Under the licence, Natco can set its own price for the generic products it produces, paying a royalty on sales to MSD," the company said in a regulatory filing. However, MSD, Ridgeback Biotherapeutics and Emory University will not receive royalties for sales of

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Lenalidomide drug is used to treat various types of cancers by slowing or stopping the growth of aberrant cells

Natco is also awaiting regulatory approval for a product based on CTPR, which is a broad spectrum insecticide used in several crops

At a time when the pharmaceutical industry in the State are complaining lack of government support in the State, Hyderabad-based Natco Pharma is planning to expand its Active Pharmaceutical Ingredient (API) and intermediates manufacturing facility and R&D in Tamil Nadu. The company is looking at investing in its existing facility, in Thiruvallur District.The company would be investing around Rs 100 crore in addition to the existing investmenbt of Rs 86.82 crore in the facility to manufacture 16 campaign products at a time, out of 42 API products and R&D activity, with a production capacity of 66.32 tonnes per annum from existing production capacity of 46.267 tonnes per annum. The proposed expansion is in a total land of 10.57 hectre in possession of the company.According to an environmental impact assessment report submitted in connection with the expansion plan, the expansion is in order to meet the growing market demand for pharmceutical products in the country.The proposed .

Project is expected to employ 1,200 persons directly and 300 persons indirectly after the expansion

Clearance is subject to compliance of certain conditions; Project expected to create 1,500 jobs

Shares of Natco Pharma were trading 1.52 per cent up at Rs 909 on BSE

Revenue and profit growth was driven by the surge in formulation business, according to Natco

Hyderabad-based Natco Pharma Limited has reported a 69.7 per cent jump in its consolidated net profit at Rs 47.6 crore for the quarter ended June, on the back of an increase in revenue from formulations. The company's net profit was Rs 28.07 crore in the corresponding period last year.