Natco Pharma gains as its marketing partner get USFDA nod to market breast cancer drugs
Natco Pharma, a vertically integrated and R&D focussed pharmaceutical company announced on Monday that its marketing partner, Breckenridge Pharmaceutical Inc has received final approval from US Food & Drug Administration (USFDA) for Everolimus tablets.
Reacting to the news, its share rose nearly 8 per cent, reporting an intraday high of Rs 898.95 on BSE.
The company’s marketing partner BPI will launch Everolimus tablets in the strengths of 2.5 mg, 5 mg, and 7.5 mg in the near term. The tablet is a generic version for Afinitor. The launch of the 10 mg strength of the product is on confidential terms of a settlement and licence agreement entered with Afinitor brand. The drug will be used in the treatment of breast cancer along with a few other types of cancers.
According to the industry sales data, Afinitor and its therapeutic equivalents registered an annual sale of USD 712 million in the USA during the twelve-month ending December 2020.
Natco Pharma is engaged in the development, manufacturing, and marketing of finished dosage formulations (FDF) as well as active pharmaceutical ingredients (APIs). It is also engaged in the contract manufacturing business, where it undertakes selected contracts with pharmaceutical companies to manufacture and supply pharmaceutical products.
On the revenue front, the company generates 71 per cent of its revenue from formulations, 19 per cent from API including the sales in the domestic market as well as exports and 10 per cent from other business verticals.
At 12.54 pm on Monday, its share was trading at Rs 858.60, up by 3.10 per cent compared to its previous close of Rs 832.75 on BSE.