Natco up 5 pc as co gets USFDA nod for generic anticancer drug

Shares of drug firm Natco Pharma gained nearly 5 per cent today after the company received final approval from the US health regulator for generic Bendamustine Hydrochloride powder for injection used in the treatment of certain types of cancers.
The stock jumped 4.49 per cent to end at Rs 624.10 on BSE. Intra-day, it surged 5.80 per cent to Rs 632.
On NSE, shares of the company climbed 4.62 per cent to settle at Rs 624.95.
The company added Rs 475.55 crore to Rs 10,878.55 crore in its market valuation.
On the volume front, 1.32 lakh shares of the company were traded on BSE and over 10 lakh shares changed hands on NSE during the day.

The company has received final approval from the United States Food and Drug Administration (USFDA) for abbreviated new drug application (ANDA) containing a paragraph IV certification for generic version of Bendamustine Hydrochloride powder for injection, 25 mg/vial and 100 mg/vial (singe-dose vial), Natco Pharma said in a BSE filing.
"Pursuant to the settlement of the paragraph IV litigation, Natco plans to launch this drug on November 1, 2019, or earlier under certain circumstances, through its marketing partner Breckenridge Pharmaceutical, Inc in the USA market," it added.