Natco Pharma: USFDA inspection ends with no observations
US Food and Drug Administration (USFDA) has completed the inspection at Natco Pharma’s Chennai unit. The shares of the company rose almost 2 per cent on the back of the news in the early trade but failed to sustain the gains and fell in the afternoon session.
Natco Pharma’s Active Pharmaceutical Ingredient (API) facility in Chennai, Tamil Nadu went through USFDA inspection which was conducted from July 8 to July 12, 2019. The regulatory audit resulted in zero observations.
Natco Pharma is engaged in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and international markets. Natco Pharma is expecting India, Brazil and Canada markets to be its revenue drivers during the current financial year, recording growth of 30 to 40 per cent. The company expects India business alone to grow by about 15 to 20 per cent.
The shares of the company on Monday opened at Rs. 528 against Friday’s close of Rs. 528.10. At 14:35 hours, it was trading at Rs. 528.50, 0.08 per cent higher than its previous close. The intraday high was Rs. 539.70 and intraday low was Rs 523.60. Its 52-week high was Rs. 849 and 52-week low was Rs. 482 per share on BSE.