Natco Pharma shines after USFDA's ANDA approval
DSIJ Intelligence / 29 Nov 2016
Natco Pharma has received final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed in the US Food and Drug Administration (USFDA) for generic version of Armodafinil tablets 50 mg, 150 mg, and 250 mg.
Natco Pharma has received final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed in the US Food and Drug Administration (USFDA) for generic version of Armodafinil tablets 50 mg, 150 mg, and 250 mg.
Cephalon sells Armodafinil 50 mg, 150 mg and 250 mg tablets under brand name Nuvugil in the USA market. Nuvugil is a wakefulness promoting agent for oral administration. Nuvugil tablets have US sales of about USD 480 million (Rs 3294 crore) for 12 months ending December 2015, according to IMS Health.
On the financial front, Natco Pharma’s revenue increased 75.56 per cent to Rs 415 crore in Q2FY17 as compared to the same period in the previous financial year. The company’s EBITDA too rose 80.05 per cent to Rs 105 crore in Q2FY17 on a yearly basis. Its net profit also soared by more than two times to Rs 66 crore in Q2FY17 on a yearly basis.
The share price of Natco Pharma increased 2.27 per cent on the bourses in early trades and is trading at Rs 609.9 on intraday basis.
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