The shares of Natco Pharma hit record highs on Monday.
At 12:20 pm, Natco Pharma was trading at ₹1,088.00 on the BSE, up ₹97.20 or 9.81 per cent. It opened at a 52-week high of ₹1,188.95 as against the previous close of ₹990.80.
On the NSE, it was trading at ₹1,088.95, up ₹98.90 or 9.99 per cent. It hit a 52-week high of ₹1,188.05.
The company has been in focus after being among the five new companies roped in by the Centre last week to produce Amphotericin B that is used to treat Mucormycosis (black fungus) to combat the shortages being reported in parts of the country.
The pharma company on Sunday announced that it has recently received approvals from the United States Food and Drug Administration (USFDA) for two products.
The company received the final approval of its Abbreviated New Drug Application (ANDA) for Lenalidomide Capsules, 5mg, 1 Omg, 15mg, and 25mg strengths FDA and the tentative approval of the 2.5mg and 20mg strengths. NATCO, along with its marketing partner Arrow International Limited (a U.S. affiliate of Teva Pharmaceutical Industries Ltd) shall launch the product on agreed-upon launch dates in the future.
Natco’s marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus Tablets (generic for ZORTRESS®),from the U.S. Food and Drug Administration (USFDA). Natco's partner BPI plans to launch 0.25 mg, 0.5 mg and 0.75 mg strengths of the product shortly.