Natco Pharma shares zoom 20%, hit 52-week high; here s why
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On Monday (May 24), shares of Natco Pharma surged over 11 percent in the morning session. At 12.56 AM, the stock was trading at Rs 1,084.10, up by Rs 93.30 or 9.42 percent.
After the stock market opened, Natco Pharma shares were at Rs 1,094, up Rs 103.20, or 10.42 percent at 9:35 AM. It has touched a 52-week high of Rs 1,188.95. It has touched an intraday high of Rs 1,188.95 and an intraday low of Rs 1,087.80.
The firm is one among 5, viz. Emcure Pharmaceuticals, Gufic Biosciences, Alembic Pharmaceuticals and Lyca Pharmaceuticals to have received approval for production of Amphotericin-B in recent days. Amphotericin-B is a drug used for treating mucormycosis-which is facing a shortage currently in India. Mucormycosis, also known as Black Fungus, damages the nose, eyes, sinuses, and sometimes even the brain,
Shares of Natco Pharma surged 20 per cent to Rs 1,188.95, also its new high, on the BSE in intra-day trade on Monday after the company said it has received approval from the US health regulator for the generic version of Celgene s multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes.
In the past three days, the stock has zoomed 30 per cent. At 09:48 am, Natco Pharma was trading 11 per cent higher at Rs 1,101 on the BSE, as compared to 0.24 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped over five-fold with a combined 3.8 million equity shares changing hands on the NSE and BSE.
Markets to open marginally down amid mixed global cues
May 24, 2021
F&O settlement week to add volatility
Amidst mixed global cues, Indian markets are expected begin the week on a flat note. However, according to analysts, markets will see heightened volatility due to the expiry of May month derivative contracts on the NSE this week.
The SGX Nifty futures at 15,174 (8 am IST) indicates a negative opening, as Nifty May and June futures on Friday closed at 15,206 and 15,232 respectively. The US stocks also ended on Friday closed with mixed colours with Dow Jones Industrial Average gaining marginally while the tech-focussed Nasdaq and broad-based S&P 500 closing weak.
Natco Pharma gets USFDA nod for two products
Updated:
Updated:
May 22, 2021 16:17 IST
Natco and Arrow will launch the approved product on agreed-upon launch dates in the future, a release said.
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Natco and Arrow will launch the approved product on agreed-upon launch dates in the future, a release said. Natco Pharma has received final approval from the U.S. Food and Drug Administration for abbreviated new drug applications (ANDA) for two products, including an anti-cancer drug for which the company and its marketing partner had settled a litigation with Celgene.
On Lenalidomide capsules, which is indicated in treatment of certain types of cancers, Natco said it has received final approval for 5mg, 10mg, 15mg, and 25mg strengths and tentative approval of the 2.5 mg and 20mg strengths.