Natco Pharma zooms 20% as partner's injection gets USFDA nod
Shares of Natco Pharma jumped 20
per cent today after the US Food and Drug Administration
granted approval to the drug major's marketing partner Mylan's
injection used for treatment of relapsing forms of multiple
The stock soared 20 per cent to Rs 954.35 -- its highest
trading permissible limit for the day -- on the BSE.
At the NSE, it zoomed 19.99 per cent to touch its upper
circuit limit of Rs 952.40.
In terms of equity volume, 2 lakh shares of the company
were traded on the BSE and over 4 lakh changed hands at the
NSE during the morning trade.
The approval is granted to Glatiramer Acetate in
strengths of 40 mg/ml and 20 mg/ml and the product is
substitutable generic version of Teva's Copaxone, Natco Pharma
said in a regulatory filing today.
The launch plans for both will be communicated shortly
after concurring with its partner Mylan, it added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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