Source: Money Control
10 Mar 2015
Shares of Natco Pharma gained 4.4 percent intraday on Monday on launching the first generic version of sofosbuvir in Nepal.
Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences Inc., under its brand Sovaldi. Natco priced its generic medicine at an MRP of Rs 19,900 for a bottle of 28 tablets in Nepal.
“Natco markets generic sofosbuvir under its brand HEPCINAT. Natco hopes to launch HEPCINAT in India soon, subject to approval from the Drugs Controller General of India (DCGI),” said the company in its filing to the exchange. Natco had recently signed a non-exclusive licensing agreement with Gilead Sciences, to manufacture and sell generic versions of its chronic hepatitis C medicines in 91 developing countries.
At 10:22 hours IST, the scrip of Natco Pharma was quoting at Rs 1,537, up Rs 23.45, or 1.55 percent on the BSE.
Posted by Sunil Shankar Matkar