Natco Pharma gains after its arm completes acquisition of Dash Pharmaceuticals
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Natco Pharma is currently trading at Rs. 909.70, up by 5.70 points or 0.63% from its previous closing of Rs. 904.00 on the BSE.
The scrip opened at Rs. 904.65 and has touched a high and low of Rs. 911.95 and Rs. 904.65 respectively. So far 4284 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1188.95 on 24-May-2021 and a 52 week low of Rs. 771.00 on 19-Feb-2021.
Last one week high and low of the scrip stood at Rs. 913.15 and Rs. 840.20 respectively. The current market cap of the company is Rs. 16576.99 crore.
The promoters holding in the company stood at 48.87%, while Institutions and Non-Institutions held 30.31% and 20.82% respectively.
Natco Pharma’s wholly owned subsidiary -- NATCO Pharma Inc. USA, has completed the acquisition of Dash Pharmaceuticals (Dash), a New Jersey based entity. Pursuant to this, Dash will become a 100% wholly owned subsidiary of NATCO Pharma Inc. and a step-down subsidiary of NATCO. The acquisition amount paid is $18 million.
Dash is a front-end pharmaceutical sales, marketing and distribution entity in the USA which is expected to have Net Sales of approximately $15 million for the financial year ending December 2021.
This acquisition provides NATCO with a platform to engage with its customers directly in the USA which is the largest pharmaceutical market in the world.
Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
