Natco Pharma rises after USFDA gesture for cancer treatment drug
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- Source: PTI
- Date: 08 Mar,2021
Natco Pharma jumped 6.2% to Rs 884.35 after the company received final approval for everolimus tablets in the US market.
Natco Pharma announced that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its abbreviated new drug application (ANDA) for everolimus tablets (a generic version of Afinitor) from the US Food and Drug Administration (USFDA).
BPI plans to establish 2.5 mg, 5 mg and 7.5 mg strengths of this product soon within the next few weeks. The launch of 10mg strength of the product is subject to confidential terms of a settlement and license agreement entered into with the owner of this Afinitor brand. The launch date of 10mg potency of this product will be announced at a later date.
The above strengths of everolimus are indicated in the treatment of breast cancer and a few other types of cancers. As per industry sales data, Afinitor and its therapeutic equivalents had generated annual sales of $712 million in USA during the twelve months ending December 2020.
Natco Pharma manufactures an extensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
The drug manufacturer’s consolidated net profit dropped 39.27% to Rs 63.40 crore on 26.33% rise in revenue from operation at Rs 355.20 crore in Q3 FY21 over Q3 FY20.