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Natco Pharma Ltd will commence production at its exclusive facility for manufacturing Galtiramer Acetate for Mylan Inc. soon.
``The Rs 91 crore dedicated facility set up here under an agreement with Mylan is ready," Dr P Bhaskara Narayana, Chief Financial Officer, Natco Pharma told Business Line here Tuesday.
At present, validation batches are being manufactured at the facility.
Till the completion of validations and approval process for the block, the Hyderabad-based company has made an existing block available for manufacturing the product on Mylan's request.
Galtiramer Acetate is used in the treatment of multiple sclerosis.
``The actual production in the dedicated multiproduction block will commence by the end of this quarter," Dr Bhaskara Narayana said.
The supply and distribution agreements entered into by Natco in the recent past with Mylan, Dr Reddy's Laboratories Ltd, among others have `substantial and significant' market opportunities, the Natco functionary said without disclosing the financial aspects.
Natco's scrip has gained 1.02 per cent on the Bombay Stock Exchange on Tuesday after opening and is trading at Rs 256.95.
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