Natco Pharma receives USFDA nod for Pomalidomide

On Friday, Natco Pharma announced that its marketing partner, Breckenridge Pharmaceutical Inc., has received final approval for its abbreviated new drug application (ANDA) for Pomalidomide capsules, from United States Food & Drug Administration (USFDA).

Natco and its marketing partner settled patent litigation for the drug with Celgene in a US district court for this product. Celgene sells Pomalidomide capsules under the brand name ‘Pomalyst’ in the US market, which is indicated for the treatment of patients suffering from multiple myeloma cancer. As per industry sales data, for the twelve-month ended September 2020, Pomalyst had annual sales of US$ 957 million.

The company had reported its Q2 results earlier today and recorded a 73.24 per cent increase in its consolidated net profit to Rs 203.90 crore on account of robust sales. The consolidated total income of the company stood at Rs 827.9 crore for the quarter under consideration, growing at 59.55 per cent YoY.

At 1.50 pm on Friday, the stock of Natco Pharma was trading at Rs 901.35 per share, down by 0.50 per cent or Rs 4.55 per share on BSE, against a 0.13 per cent decline in the benchmark index. The 52-week high is recorded at Rs 995.05 while its 52-week low is Rs 450 on BSE.