Natco Pharma rose 3.33% to Rs 812.95 at 9:20 IST on BSE after the company said it launched a generic version of Posaconazole injection.
The announcement was made after market hours on Friday, 8 June 2018.Meanwhile, the S&P BSE Sensex was up 143.92 points, or 0.41% to 35,587.59.
On the BSE, 9,258 shares were traded in the counter so far compared with average daily volumes of 11,000 shares in the past two weeks. The stock had hit a high of Rs 815.40 and a low of Rs 800 so far during the day. The stock hit a record high of Rs 1,080 on 9 June 2017. The stock hit a 52-week low of Rs 671.25 on 10 August 2017.
Natco Pharma announced that it launched a generic version of Posaconazole injection, 300 mg/16.7 ml, under its brand Posanat. This is the first time an injection version of this drug available in India. Posanat will be available in 18.0 mg/ml strength, a formulation for intravenous (IV) use. Posaconazole injection is sold in the USA market by Merck under its brand name of Noxafil. Posaconazole injection is an antifungal agent & used in patients who are at high risk of developing infections due to being severely immunocompromised, such as associated with stem cell transplant or from chemotherapy.
On a consolidated basis, net profit of Natco Pharma rose 69.90% to Rs 299.70 crore on 35.97% rise in net sales to Rs 767.80 crore in Q4 March 2018 over Q4 March 2017.
Natco Pharma is a vertically integrated and research and development (R&D) focused pharmaceutical company engaged in developing, manufacturing and marketing of finished dosage formulations (FDF) and active pharmaceutical ingredients (APIs).
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