Natco Pharma hits another new high

Natco Pharma has been hitting new highs since 25th Aug and today too, it hit a new high at Rs.1262.55, which was also its upper circuit.

The stock is reacting to the news it announced on Saturday that its US partner, Mylan Inc has filed for an ANDA. This is for Copaxone, which is a three times a week kind of generic drug. The good news is that this has been accepted by the US FDA too. The company expects to be eligible for 180 days of marketing exclusivity in the US FDA approval. Copaxone is a drug used for the treatment of multiple sclerosis.