Natco Pharma shares jump 20% as partner Mylan's injections get USFDA approval
With this blockbuster performance, the company's stock has reached nearly two-months high. The last time, Natco's share travelled over Rs 900-mark was on August 08, 2017.
Share price of Natco Pharma touched upper circuit on Wednesday after the company announced that its marketing partner Mylan has bagged final approval of US-drug regulator for generic Glatiramer Acetate injections.
At 1321 hours, the share price of Natco was trading at Rs 954.35 per share on BSE, up Rs 159.05 or 20%.
With this blockbuster performance, the company's stock has reached nearly two-months high. The last time, Natco's share crossed Rs 900-mark was on August 08, 2017.
In a statement, Natco said, "The US Food and Drug Administration (FDA) has approved its marketing partner Mylan's Abbreviated New Drug Applications (ANDAs) for Glatiramer Acetate Injection 40 mg/mL for 3-times-a-week injection, an AP-rated, substitutable generic version of Teva's Copaxone 40 mg/mL, and Glatiramer Acetate Injection 20 mg/mL for once-daily injection."
The launch plans for both products will be communicated shortly after concurring with its partner Mylan.
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