Natco Pharma rises 7% on USFDA final approval for Tamiflu

Moneycontrol BureauShare price of Natco Pharma touched 52-week high of Rs 650.90, rises 7.3 percent intraday Thursday as it has received final approval for Abbreviated New Drug Application (ANDA) from USFDA for Tamiflu. "The company has received final approval of ANDA containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic versions of Tamiflu oral capsules, 30 mg, 45 mg and 75 mg," as per company release.Natco and its marketing partner Alvogen are the first generic players to receive this approval. Tamiflu oral capsules had US sales of approximately USD 403 Million for twelve months ending December 2015, according to IMS Health.The company's board meeting is scheduled to be held on August 09, 2016, to consider the unaudited financial results for the quarter ended June 30, 2016 and interim dividend, if any, for the year 2016-17.At 11:25 hrs Natco Pharma was quoting at Rs 628.95, up Rs 22.55, or 3.72 percent on the BSE.Posted by Rakesh Patil