NATCO receives Pomalidomide approval for US market

Natco Pharma Limited (NSE: NATCOPHARM; BSE: 524816) has announced that its marketing partner, Breckenridge Pharmaceutical Inc., has received final approval for its Abbreviated New Drug Application (ANDA) for Pomalidomide Capsules, from the U.S. Food and Drug Administration {USFDA). In addition, NATCO and Breckenridge have settled the patent litigation with Celgene (now part of Bristol-Myers Squibb) in the U.S. district court for this product.

Celgene, sells Pomalidomide Capsules under Brand name POMALYST®, in the USA market which is indicated for the treatment of patients suffering from multiple myeloma cancer. As per industry sales data, POMALYST® had annual sales of $957 million during the twelve months ending September 2020.

Shares of NATCO PHARMA LTD. was last trading in BSE at Rs.905.9 as compared to the previous close of Rs. 897.35. The total number of shares traded during the day was 18992 in over 1584 trades.

The stock hit an intraday high of Rs. 932 and intraday low of 893.3. The net turnover during the day was Rs. 17344371.

Source : Equity Bulls

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