NATCO receives approval for Carfilzomib Vials ANDA in the US market

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

The parties have received final approval for 10mg and 60mg strengths of the product and tentative approval for 30mg strength of the product. Based on the ANDA filing date NATCO believes that it is eligible for 180 days of sole generic marketing exclusivity for the 10mg strength and shared 180 days of generic marketing exclusivity for the 60mg strength of the product at the time of launch.

In the year 2019, the parties have reached a Settlement Agreement on para IV litigation related to the product with Onyx Therapeutics, Inc. By virtue of the settlement, NATCO and Breckenridge have been granted a license permitting the launch of their generic carfilzomib products on a date that is held as confidential in the year 2027 or sooner depending on certain occurrences.

As per industry sales data, KYPROLIS® had generated annual sales of $696million during the twelve months ending December 2020 in the US. 10mg strength alone generated sales of $63million for the same period.

Shares of NATCO PHARMA LTD. was last trading in BSE at Rs.1097.45 as compared to the previous close of Rs. 1101.3. The total number of shares traded during the day was 14056 in over 1166 trades.

The stock hit an intraday high of Rs. 1112 and intraday low of 1080.1. The net turnover during the day was Rs. 15375740.

*All brand names and trademarks are the property of their respective owners

Source : Equity Bulls

Keywords