Natco Pharma rose 4.72% to Rs 635 at 10:50 IST on BSE after the company received final approval for Abbreviated New Drug Application from USFDA for generic versions of Tamiflu oral capsules.
The announcement was made before trading hours today, 4 August 2016.Meanwhile, the S&P BSE Sensex was up 74.28 points, or 0.27%, to 27,771.79.
On BSE, so far 96,000 shares were traded in the counter, compared with an average daily volume of 64,307 shares in the past one quarter. The stock hit a high of Rs 650.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 626.05 so far during the day. The stock hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past one month till 3 August 2016, rising 6.67% compared with 2.04% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 30.31% as against Sensex's 9.78% rise.
The large-cap company has an equity capital of Rs 34.83 crore. Face value per share is Rs 2.
Natco Pharma has received final approval for abbreviated new drug application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic versions of Tamiflu oral capsules, 30 mg, 45 mg and 75 mg. Natco and its marketing partner Alvogen are the first generic players to receive this approval. Tamiflu is Roche's trade name for oseltamivir phosphate.
Earlier in December 2015, Natco and Alvogen settled a patent infringement with Gilead Sciences Inc., Hoffmann-La Roche Inc., F. Hoffmann-La Roche and Genentech Inc. Under the terms of the settlement, Natco's partner Alvogen will be able to market the oseltamivir phosphate capsules before the expiration of the pediatric exclusivity period for the drug, which is 23 February 2017.
Tamiflu oral capsules had US sales of approximately $403 million for twelve months ended December 2015, according to IMS Health data.
Natco Pharma's consolidated net profit rose 10.7% to Rs 60.24 crore on 103% growth in net sales to Rs 386.77 crore in Q4 March 2016 over Q4 March 2015. The company is scheduled to announce Q1 June 2016 results on 9 August 2016.
Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.
Powered by Capital Market - Live News
