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Natco Pharma gains on US FDA approval; share up 27% in a month.

Date: 29-04-2020
Subject: Natco Pharma gains on US FDA approval; share up 27% in a month
Natco Pharma share price rose more than 1 percent intraday on April 28 after the company received US FDA approval.

The company received final approval for its 1st supplemental abbreviated new drug application (sANDA) product from the US Food and Drug Administration (USFDA) filed from its new drug formulations facility in JNPC SEZ, Ramky Pharma City, Visakhapatnam (Vizag), Andhra Pradesh, India.

The sANDA, submitted as "Prior Approval Supplement," provides for company's Vizag facility as an alternate site for manufacturing the drug product for the US market.

At 11:52 hrs, Natco Pharma was quoting at Rs 633.40, up Rs 1.70, or 0.27 percent.

The share touched its 52-week high of Rs 737.80 and its 52-week low of Rs 450 on 10 February 2020 and 25 March 2020, respectively.

Currently, it is trading 14.15 percent below its 52-week high and 40.76 percent above its 52-week low.

Source:- moneycontrol.com

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