Natco Pharma gains on USFDA nod for a medicine

The announcement was made during trading hours today, 2 July 2013.

Meanwhile, the S&P BSE Sensex was down 78.40 points or 0.4% at 19,498.99.

On BSE, 22,070 shares were traded in the counter as against average daily volume of 15,270 shares in the past one quarter.

The stock was volatile. The stock rose 4.4% at the day's high of Rs 469.20 so far during the day. The stock hit a low of Rs 450 so far during the day. The stock had hit a 52-week low of Rs 330 on 2 July 2012. The stock had hit a record high of Rs 505.20 on 20 December 2012.

The stock had outperformed the market over the past one month till 1 July 2013, rising 1.81% compared with the Sensex's 0.93% slide. The scrip had, however, underperformed the market in past one quarter, declining 0.66% as against Sensex's 3.78% rise.

The small-cap company has equity capital of Rs 31.37 crore. Face value per share is Rs 10.

Natco Pharma said it has received approval from the United States Food and Drug Administration (USFDA) for marketing its Rizatriptan Benzoate orally disintegrating tablets (ODT) in 5 mg and 10 mg strengths in the United States. The company said it has already commenced shipments of its product, which is being launched by its marketing partner Breckenridge Pharmaceuticals. Rizatriptan is used to treat migraine headaches with or without aura (warning signs that occur prior to the onset of a migraine headache). As per IMS data, the annual sale of Rizatriptan is approximately $271 million in the United States for the twelve months ended April 2013.

Natco Pharma's consolidated net profit declined 4.9% to Rs 12.03 crore on 12.4% growth in net sales to Rs 157.26 crore in Q4 March 2013 over Q4 March 2012.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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