Natco Pharma gains on receiving approval for Chlorantraniliprole Technical

Hyderabad-based pharmaceutical company, Natco Pharma announced on Friday that it has received registration approval from Central Insecticide Board & Registration Committee (CIB&RC) for indigenous manufacturing of Chlorantraniliprole (CTPR) Technical. 

It will be the first indigenous manufacturer of this technical product. Chlorantraniliprole Technical is formulated into broad-spectrum insecticides, which are used in several crops for better pest management. 

The company anticipates bringing products based on CTPR in near term that would be affordable and accessible to farmers across India. 

CTPR is an active ingredient used in products commercialised by FMC under the brands Coragen & Ferterra. The sales from CTPR containing products in India was estimated to be Rs 1,540 crore in 2016, which is inclusive of third-party marketing companies, as per the declaration given by FMC. The company believes the current market size to be more than Rs 2,000 crore. 

Natco Pharma Limited is R&D focussed pharmaceutical company engaged in developing, manufacturing & marketing of finished dosage formulations (FDF) and active pharmaceutical ingredients (APIs). It has diversified its business into the crop health sciences to leverage its skills in organic chemistry. 

At 2.08 pm, the company's stock was trading 1.39 per cent higher at Rs 912.30. It has an intraday high of Rs 933.00 and an intraday low of Rs 897.60 on BSE.