Natco Pharma is trading higher by 8% to Rs 529, extending its past two-week rally, on the Bombay Stock Exchange (BSE). The stock opened at Rs 495 and hit a record high of Rs 534 so far. A combined 311,021 shares changed hands on the counter till 1515 hours.
The stock of pharmaceutical company has outperformed the market by surging 18% since July 1, after the company said has obtained approval for marketing its Rizatriptan Benzoate (Maxalt-MLD) orally disintegrating tablets in the US market. The benchmark Sensex has gained 2.2% rise during the same period.
The drug is used in the treatment of migraine headache with or without warning signs that occur prior to the onset of headache.
The stock of pharmaceutical company has outperformed the market by surging 18% since July 1, after the company said has obtained approval for marketing its Rizatriptan Benzoate (Maxalt-MLD) orally disintegrating tablets in the US market. The benchmark Sensex has gained 2.2% rise during the same period.
The drug is used in the treatment of migraine headache with or without warning signs that occur prior to the onset of headache.
“The company had already commenced shipments of the product which was being launched by its marketing partner, Breckenridge Pharmaceuticals,” Natco Pharma said in a statement.
Natco estimates the market to be around $250 million (before generic launch – as of December 31, 2012).
