Here's why Natco Pharma share price gained over 4% on October 7; details

Natco Pharma share rose after the company announced that Mylan Pharmaceuticals Inc & Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide)

Natco Pharma share price: Pharmaceutical company Natco Pharma soared up to 4.34 per cent to hit an intraday high of Rs 1413.45 per share on Monday, October 7, 2024. 

The rise in Natco Pharma share price came after the company announced that Mylan Pharmaceuticals Inc and Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide). 

In an exchange filing, Natco Pharma said, “Natco Pharma Limited announces that Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic (Semaglutide). Natco and Mylan are partnered on the development of generic Ozempic products. The terms of the settlement are confidential.”

Natco and Mylan are partnered on the development of generic Ozempic products. The terms of the settlement are confidential, according to Natco Pharma.

Additionally, the company revealed that Natco Pharma’s manufacturing partner is Stelis.
 

Natco Pharma Limited is a vertically integrated pharmaceutical company focused on research and development (R&D), specialising in complex products for niche therapeutic areas. 

The company operates across three key segments: finished dosage formulations (FDF), active pharmaceutical ingredients (APIs), and contract manufacturing. Natco Pharma is particularly concentrated on high-barrier-to-entry products characterised by intricate chemistry and complex manufacturing processes. 

It is making considerable strides in the US market with 23 Para IV applications in its pipeline, 15 of which have received approval, and is also winning tenders in Asian markets like Malaysia and Thailand.

In addition to its US operations, Natco's specialty business in India focuses on oncology, specialty pharma, cardiology, and diabetology, supported by a robust sales force and extensive distribution network. 

The API segment boasts 44 active Drug Master Files (DMFs) in the US, primarily for oncology and specialty products, with a focus on challenging chemistries and an expanding oligonucleotide portfolio. 

The company has a growing international presence through subsidiaries in Brazil, Canada, Singapore, Australia, and the Philippines, strengthening its market position with a diverse portfolio and successful product launches in various therapeutic areas.

At 12:36 PM, Natco Pharma shares were trading 1.79 per cent higher at Rs 1,378.95 per share. In comparison, BSE Sensex was trading 0.24 per cent lower at 81,495.11 levels.