Natco Pharma jumps on getting emergency use approval for Baricitinib tablets for Covid-19 treatment
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Natco Pharma is currently trading at Rs. 918.10, up by 21.45 points or 2.39% from its previous closing of Rs. 896.65 on the BSE.
The scrip opened at Rs. 920.00 and has touched a high and low of Rs. 935.00 and Rs. 915.30 respectively. So far 14078 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 995.05 on 28-Sep-2020 and a 52 week low of Rs. 556.50 on 15-May-2020.
Last one week high and low of the scrip stood at Rs. 944.00 and Rs. 883.55 respectively. The current market cap of the company is Rs. 16349.32 crore.
The promoters holding in the company stood at 48.87%, while Institutions and Non-Institutions held 32.49% and 18.65% respectively.
Natco Pharma has received Emergency Use approval for Baricitinib tablets, 1mg, 2mg and 4mg strengths from Central Drugs Standard Control Organization (CDSCO) in India. Baricitinib in combination with Remdesivir, is used for treatment of COVID-19 positive patients.
Natco will be requesting a Compulsory License based on emergency use and in light of the grave and serious public health emergency across India due to the Pandemic. The company is ready to launch the product this week, so as to make the product available to suffering patients across India.
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.
