Natco Pharma has rallied 5.3% at Rs 492 after the company said it has received approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Lansoprazole Delayed Release Capsules for the prescription market.
“The drug is indicated for the treatment of gastric (stomach) ulcers. Shipments of this product will commence immediately,” Natco Pharma said in a statement.
The stock opened at Rs 472 and hit a record high Rs 503 on the NSE. As many as a combined 436,441 shares have changed hands on the counter till late noon deals against an average around 100,000 shares that were traded daily in past two weeks.
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