Natco Pharma rose 3.09% to Rs 713.45 after the company announced the launch of first generic version of Nexavar (Sorafenib) tablets in the US market.
Viatris, a global pharma company and commercial partner of Natco, will launch the product.Sorafenib is prescribed for treatment of unresectable Hepatocellular Carcinoma (HCC), advanced Renal Cell Carcinoma (RCC) and Differentiated Thyroid Carcinoma (DTC). It is an oral multi-kinase inhibitor that is used in the therapy of advanced renal cell, liver and thyroid cancer.
As per the industry sales data, Nexavar registered sales of $69.7 million for the year ended December 2021.
Natco Pharma is a vertically integrated and R&D focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations and active pharmaceutical ingredients.
On a consolidated basis, net profit of Natco Pharma tumbled 195.3% to Rs 50.5 crore despite of 80.1% rise in net sales to Rs 596.80 crore in Q4 FY22 over Q4 FY21.
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