On Monday (May 24), shares of Natco Pharma surged over 11 percent in the morning session. At 12.56 AM, the stock was trading at Rs 1,084.10, up by Rs 93.30 or 9.42 percent.
After the stock market opened, Natco Pharma shares were at Rs 1,094, up Rs 103.20, or 10.42 percent at 9:35 AM. It has touched a 52-week high of Rs 1,188.95. It has touched an intraday high of Rs 1,188.95 and an intraday low of Rs 1,087.80.
The firm is one among 5, viz. Emcure Pharmaceuticals, Gufic Biosciences, Alembic Pharmaceuticals and Lyca Pharmaceuticals to have received approval for production of Amphotericin-B in recent days. Amphotericin-B is a drug used for treating mucormycosis-which is facing a shortage currently in India. Mucormycosis, also known as Black Fungus, damages the nose, eyes, sinuses, and sometimes even the brain, PTI report said.
On Saturday (May 22), the company said it has received USFDA approval for generic Lenalidomide capsules indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes.
The company has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Lenalidomide capsules in 5 mg, 10 mg, 15 mg, and 25 mg strengths, and tentative approval for the capsules in strengths of 2.5 mg and 20 mg, Natco Pharma said in a regulatory filing.
Natco, along with its marketing partner Arrow International previously settled the Paragraph IV litigation related to the product with Celgene, now part of Bristol-Myers Squibb, who sells the product under the brand name ''Revlimid'', it added.
Natco and Arrow shall launch the product on agreed-upon launch dates in the future, the filing said.
In another filing, Natco said its marketing partner Breckenridge Pharmaceutical Inc has received final approval for its ANDA for Everolimus tablets from the US health regulator.
Breckenridge Pharmaceutical Inc plans to launch the tablets in strengths of 0.25 mg, 0.5 mg and 0.75 mg shortly, it added.