Natco Pharma gets USFDA nod for generic cancer drug, shares rise 4% intra-day
Natco Pharma shares rose after receiving tentative U.S. FDA approval for a generic version of the cancer drug Lynparza. The company plans to manufacture the drug while partnering with Alembic Pharmaceuticals for distribution.
Why it matters
Generic drug approvals significantly impact market competition and patient access to affordable cancer treatments.
Hyderabad-based Indian multinational pharmaceutical and biotechnology company Natco Pharma’s shares were in the spotlight on Monday after it received tentative approval from the U.S. Food and Drug Administration (FDA) for Olaparib, 100 mg, and 150 mg, which are bioequivalent to AstraZeneca Pharmaceuticals’ referenced drug Lynparza used in the treatment of certain types of cancer.
The shares of the generic drugmaker touched more than 4% intra-day before ending the day less than 1% higher at Rs.950.55 each.
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