Feb 14, 2017 10:10 PM IST | Source: Moneycontrol.com

Natco net profit surges five-fold to Rs 195 crore in Q3

The revenue and profit growth for the company during the quarter was driven predominantly by the sales of Oseltamivir product or generic Tamiflu in the US market and includes profit sharing from our marketing partner, Natco said in a statement.

Natco net profit surges five-fold to Rs 195 crore in Q3
Natco Pharma on Tuesday posted a five-fold rise in net profit to Rs 194.8 crore in third quarter ended December on back of a windfall gain from exclusivity of generic Tamiflu drug in US market.

The company posted a net profit of Rs 37 crore in the same period of previous year. The company sales rose 134 percent to Rs 685.13 crore.

The revenue and profit growth for the company during the quarter was driven predominantly by the sales of Oseltamivir product or generic Tamiflu in the US market and includes profit sharing from our marketing partner, Natco said in a statement.

Natco launched generic Tamiflu capsules, used for treatment of influenza, in the US market in December last year after an out of court settlement with Gilead and Roche.

The settlement allows Natco for a limited period of exclusivity for Tamiflu drug in the strengths of 30 mg, 45 mg and 75 mg.

Natco teamed up with US-based drug maker Alvogen Inc. to challenge Tamiflu patents held by Gilead and its partner.

According to IMS Health, Tamiflu oral capsules had US sales of approximately $403 million for the 12 months ended December 2015.

Shares of Natco rose 1.72% and were trading at Rs779 on BSE at 3.15 pm, while the benchmark Sensex declined 0.05% to 28,337.60 points.

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