NATCO receives final approval for Everolimus tablets for the US market

Natco Pharma Limited (NSE: NATCOPHARM; BSE: 524816) has announced that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus Tablets (generic for Afinitor®) from the U.S. Food and Drug Administration (USFDA).

NATCO's partner BPI plans to launch 2.5 mg, 5 mg and 7.5 mg strengths of the product shortly within the next few weeks. The launch of 10mg strength of the product is subject to confidential terms of a settlement and license agreement entered into with the owner of the Afinitor® brand. The launch date of 10mg strength of the product will be announced at a later date.

The above strengths of Everolimus are indicated in the treatment of breast cancer and a few other types of cancers. As per ind ustry sales data, Afinitor® and its therapeutic equivalents had generated annual sales of $712 million in USA during the twelve months ending December 2020.

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Shares of NATCO PHARMA LTD. was last trading in BSE at Rs.827.9 as compared to the previous close of Rs. 836.8. The total number of shares traded during the day was 18874 in over 854 trades.

The stock hit an intraday high of Rs. 852.7 and intraday low of 823.95. The net turnover during the day was Rs. 15867145.

Source : Equity Bulls

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