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Home » Stock Market » Natco Pharma Gains As U.S FDA Grants Tentative Nod For Ovarian Cancer Drug

Natco Pharma Gains As U.S FDA Grants Tentative Nod For Ovarian Cancer Drug

Shares of Natco Pharma jumped nearly 3%, the most in this week so far. Trading volume is thrice the 30-day average. A dividend of Rs 3.5 is payable on August 30 and the stock will trade ex-dividend on Friday.

  • The rise comes after the company announced that U.S. FDA granted tentative approval to its Abbreviated New Drug Application (ANDA) for Trabectedin for injection (generic for Yondelis*) for 1 mg/vial presentation.
  • The drug is used in chemotherapy medication for treatment of advanced soft-tissue sarcoma and ovarian cancer.
  • According to industry sales data, Yondelis generated annual sales of $49.7 million for twelve months ending June 2022 in the U.S. market.
  • Of the 15 analysts tracking the company, six maintain ‘buy’, seven recommend ‘hold’ and two suggest ‘hold’. The return potential on the stock is 14.9%.

Source: Exchange filing, Bloomberg

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