Breckenridge Announces Final Approval of its ANDA for Everolimus Tablets (generic for Zortress®)
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BERLIN, Conn., June 1, 2021 /PRNewswire/ Breckenridge Pharmaceutical, Inc. announces today that the U.S. Food and Drug Administration has granted final approval of its Abbreviated New Drug Application for Everolimus Tablets (generic for Zortress
®). This product was developed in collaboration with Natco Pharma Limited. According to industry sales data, Zortress and its therapeutic equivalents generated annual sales of $162 million during the twelve months ending March 2021. Breckenridge plans to launch Everolimus Tablets in 0.25mg, 0.5mg and 0.75mg strengths during the third quarter of 2021 in a blister card packaging configuration.
Natco Pharma hits record highs on drug approvals
May 24, 2021
The shares of Natco Pharma hit record highs on Monday.
At 12:20 pm, Natco Pharma was trading at ₹1,088.00 on the BSE, up ₹97.20 or 9.81 per cent. It opened at a 52-week high of ₹1,188.95 as against the previous close of ₹990.80.
On the NSE, it was trading at ₹1,088.95, up ₹98.90 or 9.99 per cent. It hit a 52-week high of ₹1,188.05.
The company has been in focus after being among the five new companies roped in by the Centre last week to produce Amphotericin B that is used to treat Mucormycosis (black fungus) to combat the shortages being reported in parts of the country.
Why Natco Pharma share zoomed 20% today
Presently six firms - BDR Pharma, Bharat Serums and Vaccines, Mylan, Sun Pharma, Cipla, and Life Care - are producing Amphotericin B
BusinessToday.In | May 24, 2021 | Updated 12:17 IST
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Share of Natco Pharma rose 20 per cent to hit a fresh 52-week high of Rs 1188.95 in early tradeafter the Drug Controller General of India (DCGI) gave its nod to the firm start manufacturing antifungal anti-fungal drug Amphotericin B liposomal injection. Its demand has increased in the wake of a surge in black fungus infections. Four other firms Alembic Pharmaceuticals, Emcure Pharmaceuticals, Gufic Biosciences and Lyca Pharmaceuticals have also received DCGI s permission to produce the injection.
Natco Pharma shares zoom 20%, hit 52-week high; here s why
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On Monday (May 24), shares of Natco Pharma surged over 11 percent in the morning session. At 12.56 AM, the stock was trading at Rs 1,084.10, up by Rs 93.30 or 9.42 percent.
After the stock market opened, Natco Pharma shares were at Rs 1,094, up Rs 103.20, or 10.42 percent at 9:35 AM. It has touched a 52-week high of Rs 1,188.95. It has touched an intraday high of Rs 1,188.95 and an intraday low of Rs 1,087.80.
The firm is one among 5, viz. Emcure Pharmaceuticals, Gufic Biosciences, Alembic Pharmaceuticals and Lyca Pharmaceuticals to have received approval for production of Amphotericin-B in recent days. Amphotericin-B is a drug used for treating mucormycosis-which is facing a shortage currently in India. Mucormycosis, also known as Black Fungus, damages the nose, eyes, sinuses, and sometimes even the brain,
Shares of Natco Pharma surged 20 per cent to Rs 1,188.95, also its new high, on the BSE in intra-day trade on Monday after the company said it has received approval from the US health regulator for the generic version of Celgene s multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes.
In the past three days, the stock has zoomed 30 per cent. At 09:48 am, Natco Pharma was trading 11 per cent higher at Rs 1,101 on the BSE, as compared to 0.24 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped over five-fold with a combined 3.8 million equity shares changing hands on the NSE and BSE.