Natco Pharma extends rally on ties up with Gilead on hepatitis C drugs

The stock has moved higher by 8% to Rs 1,542, extending its previous day's 4% gain on NSE,

Natco Pharma has moved higher by 8% to Rs 1,542, extending its previous day’s 4% gain on NSE, after the company announced that it has signed a non-exclusive licensing agreement with Gilead Sciences, to manufacture and sell generic versions of its chronic hepatitis C medicines.

The medicines include sofosbuvir, ledipasvir/sofosbuvir and the investigational NS5A inhibitor GS-5816 that was being evaluated in phase 3 clinical studies as part of a single tablet regimen combining the compound and sofosbuvir for treating all six genotypes of hepatitis C, Natco Pharma said in a press release.

The company said, the agreement allows Natco to expand access to these chronic hepatitis C medicines in 91 developing countries.

The stock opened at Rs 1,444 and touched high of Rs 1,543 on NSE. The trading volumes on the counter more than doubled with a combined 144,275 shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.