Natco Pharma’s consolidated net profit increased 28 per cent at Rs 22 crore in the first quarter ended June 30 compared to Rs 17 crore in the same period last year.
The revenue of the Hyderabad-based company grew by 21 per cent at Rs 182 crore (Rs 151 cr). “Exports of active pharmaceutical ingredients and formulations continue to drive growth,’’ the company said in a release.
Natco was awaiting approval from the US Food and Drug Administration for an abbreviated new drug application for Glatiramer Acetate (Copaxone) for a possible launch in May 2014 in association with Mylan Inc. Recently, the company got a favourable verdict from the US Federal Circuit Court in a patent dispute on the drug.
Natco’s scrip gained 2 per cent on the Bombay Stock Exchange on Wednesday to end at Rs 621.15.