Natco Pharma gets USFDA nod for Vizag formulation facility

Natco Pharma on Tuesday (28 April) said its Vizag formulation facility received US drug regulator's approval.

Natco Pharma announced final approval of 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 Visakhapatnam (Vizag), Andhra Pradesh, India.

The sANDA, submitted as prior approval supplement, provides for NATCO' s Vizag facility as an alternate site for manufacture of the approved drug product for the US market.

On Saturday, 25 April 2020, Natco Pharma announced the successful closure of inspection with an Establishment Inspection Report (EIR) from the USFDA for the pre-approval inspection conducted at its drug formulations facility in Kothur village, Telangana, during the period from 2 March to 6 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 63.015. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) and 200-day moving average (DMA) placed at Rs 587.72 and Rs 577.83 respectively.

Natco Pharma is a pharmaceutical company. The company has seven manufacturing facilities spread across India with research laboratories, capabilities in New Drug Development, etc.

Shares of Natco Pharma fell 0.71% to Rs 627.20 on BSE. The stock traded in the range of Rs 621.55 to Rs 640.60 so far.

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