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NATCO PHARMA - HITS A NEW HIGH

Shares of Natco Pharma surged 20% to a new high on BSE in intra-day trade on Monday after the company said it has received approval from the US health regulator for the generic version of Celgene's multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes. Natco along with its marketing partner Arrow (Teva's affiliate), has already settled the Para IV litigation with Celgene in December 2015. Natco and Arrow shall launch the product on agreed-upon launch dates in the future. In a separate regulatory filing Natco Pharma said that its marketing partner Breckenridge Pharmaceutical Inc (BPI), has received final approval for its Abbreviated New Drug Application for Everolimus tablets (generic for Zortress), from the USFDA. BPI plans to launch 0.25mg, 0.5mg and 0.75mg strengths of the product shortly, which are indicated in the prophylaxis of organ rejection in kidney transplantation and liver transplantation.As per industry sales data, Zortress (Everolimus) and its therapeutic equivalents generated annual sales of USD 162 million during the twelve months ended March 31, 2021 in the US, it added.

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