1. Natco Pharma shares hit fresh 52-week high on receiving EIR report from USFDA

Natco Pharma shares hit fresh 52-week high on receiving EIR report from USFDA

Natco Pharma shares hit their fresh 52-week high of Rs 703.95 on Thursday after the company announced that it has received a successful Establishment Inspection Report (EIR) from the USFDA

By: | New Delhi | Updated: August 25, 2016 5:26 PM

 

Natco Pharma shares Natco Pharma shares hit their fresh 52-week high of Rs 703.95 on Thursday after the company announced that it has received a successful Establishment Inspection Report (EIR) from the USFDA (Reuters)

Natco Pharma shares hit their fresh 52-week high of Rs 703.95 on Thursday after the company informed bourses that it has received a successful Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted, from February 8 to February 12, 2016, at its Chemical Division in Chennai (named Natco Organics, prior to amalgamation into the company).

Shares of Natco Pharma were trading 4.37 per cent up at Rs 683.80 at 12.07 pm. The scrip opened the day at Rs 665 and has touched a high and low of Rs 703.95 and Rs 661.40, respectively, in trade so far. Later, share price of the company closed 4.32 per cent up at Rs 683.50.

In another BSE filing, the company announced that the US Patent and Trademark Office has ruled in favour of its marketing partner, Mylan.

Promoters hold 51.28 per cent stake in the company, while public hold 48.72 per cent stake, according to the website of BSE.

For the quarter ended March 31, 2016, Natco Pharma reported a consolidated net profit of Rs 47.65 crore, up 69.75 per cent, against Rs 28.07 crore in the corresponding quarter a year ago. Net sales of the pharma company jumped by 38.03 per cent year-on-year to Rs 297.71 crore for the quarter under review against Rs 215.69 crore in the same quarter last year.

In the past one year, shares of Natco Pharma soared 61.12 per cent to Rs 655.20 till August 24, whereas BSE Sensex gained 9.01 per cent during the same period.

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