The share price of Natco Pharma on Monday increased by more than 20 percent intraday after the Drug Controller General of India (DCGI) authorized five firms, including Natco Pharma. Natco Pharma Limited has announced that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus from the U.S. Food and Drug Administration (USFDA).
On May 21, Natco Pharma announced the start of phase-III clinical trials for Molnupiravir capsules in India. The first patient was dosed in Yashoda Hospitals in Hyderabad, according to the study.
The approval is to begin the development of the antifungal drug Amphotericin B liposomal injection, which is critical in the treatment of Mucormycosis, also known as 'Black Fungus,' the stock has been reacted with the development.
Shares of Natco Pharma Ltd has increased by 30% in the last three days. On Monday at around 1.40 pm, the stock was trading in NSE at Rs. 1,087.40 as compared to the previous close of Rs. 990.05. The stock touched an intraday high of Rs 1,188.05 during the day.
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