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BUZZ-India's Natco Pharma rises; U.S. FDA approves generic for multiple sclerosis
October 4, 2017 / 4:21 AM / 2 months ago

BUZZ-India's Natco Pharma rises; U.S. FDA approves generic for multiple sclerosis

** India’s Natco Pharma Ltd surges 20 pct to 952.40 rupees to hit its upper circuit limit, the biggest intraday pct gain since July 29, 2013

** U.S. marketing partner Mylan NV gets FDA approval for Natco’s generic of multiple sclerosis treatment Glatiramer Acetate, for the 20 mg/mL and 40 mg/mL versions

** Natco could be the only generic in the market for 40mg version for the next 6 months - Jefferies analysts say in a note

** Natco’s strong R&D team, complex specialty focus pipeline and lack of significant FDA issues make it one of the best placed Indian pharma companies - Jefferies

** Up to Tuesday’s close, stock had risen 36.9 pct this year

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