Natco Pharma soars after filing ANDA for generic version of Erdafitinib Tablets
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Natco Pharma is currently trading at Rs. 794.65, up by 14.75 points or 1.89% from its previous closing of Rs. 779.90 on the BSE.
The scrip opened at Rs. 780.05 and has touched a high and low of Rs. 797.90 and Rs. 773.70 respectively. So far 46549 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 797.90 on 26-Jul-2023 and a 52 week low of Rs. 502.00 on 02-Feb-2023.
Last one week high and low of the scrip stood at Rs. 797.90 and Rs. 714.65 respectively. The current market cap of the company is Rs. 14165.80 crore.
The promoters holding in the company stood at 49.76%, while Institutions and Non-Institutions held 26.17% and 24.07% respectively.
NATCO Pharma has submitted Abbreviated New Drug Application (ANDA) containing a paragraph IV certification with the U.S. Food and Drug Administration (USFDA) for the generic version of Erdafitinib Tablets 3 mg, 4 mg, and 5 mg strengths. Erdafitinib is indicated for the treatment of adult patients with locally advanced or metastatic urothelial carcinoma (mUC). Erdafitinib Tablets are marketed in the United States (US) by Janssen Biotech under brand Balversa. NATCO has been named as defendant in a lawsuit filed in the US district court of New Jersey by Janssen Pharmaceutica NV, Janssen Biotech and Otsuka holdings’ Astex Therapeutics.
NATCO believes that the ANDA is possibly sole first-to-file based on its filing date and may be eligible for 180 days of marketing exclusivity at the time of launch. Balversa has recorded sales of $36.5 million in the US market for the year ending December 2022, as per IQVIA database.
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.
