Natco Pharma shows a robust jump

In an otherwise very lackluster market, Natco Pharma is doing extremely well. The stock hit a new high today at Rs.1679.40 and currently trades over 6% higher at Rs.1647 levels.

Pharma stocks as such have a lot of fancy on the bourses and Natco is one of the few much liked stocks. Thus any positive news in the stock is usually greeted with a lot of gusto. The good news this time around is that it has launched the first generic version of sofosbuvir in Nepal. Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences, Inc., under its brand Sovaldi. Natco priced its generic medicine at an MRP of Rs.19,900 for a bottle of 28 tablets in Nepal.

Natco markets generic sofosbuvir under its brand HEPCINAT. Natco hopes to launch HEPCINAT in India soon, subject to approval from the Drugs Controller General of India (DCGI). Natco had recently signed a non-exclusive licensing agreement with Gilead Sciences, to manufacture and sell generic versions of its chronic hepatitis C medicines in 91 developing countries.