Natco Pharma gains as its arm makes $8 million investment in eGenesis
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Natco Pharma is currently trading at Rs. 1553.65, up by 24.85 points or 1.63% from its previous closing of Rs. 1528.80 on the BSE.
The scrip opened at Rs. 1486.35 and has touched a high and low of Rs. 1568.75 and Rs. 1486.35 respectively. So far 25507 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1584.95 on 27-Aug-2024 and a 52 week low of Rs. 725.00 on 02-Nov-2023.
Last one week high and low of the scrip stood at Rs. 1569.00 and Rs. 1486.35 respectively. The current market cap of the company is Rs. 27693.97 crore.
The promoters holding in the company stood at 49.71%, while Institutions and Non-Institutions held 25.31% and 24.97% respectively.
Natco Pharma’s wholly owned subsidiary -- NATCO Pharma (Canada) Inc., has made an investment of $8 million in eGenesis, Inc., a biotechnology company at the forefront of xenotransplantation focused on developing safe and effective human-compatible organs for transplant. In March 2024, eGenesis announced the world’s first porcine kidney transplant in a living patient. The transplant was authorized by the U.S. Food & Drug Administration (FDA) under the Expanded Access pathway.
With this, the company is investing in new-age therapeutic programmes addressing critical unmet medical needs.
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.
