Natco Pharma's Canadian unit, Celgene sign pact for cancer treatment drug

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

Natco Pharma on Friday said its Canadian subsidiary has entered into a settlement agreement with biopharmaceutical firm Celgene (part of Bristol-Myers Squibb) for Lenalidomide capsules.

Lenalidomide is used to treat various types of cancers. It works by slowing or stopping the growth of cancer cells.

"Natco Pharma (Canada) Inc., Canada, a subsidiary of Natco Pharma Ltd has entered into a settlement agreement with Celgene (now part of Bristol-Myers Squibb) for the product Lenalidomide Capsules in Canada," the company said in a regulatory filing.

The terms of the agreement are confidential as per the agreement, the company added.

Shares of Natco Pharma were trading 0.15