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Natco Pharma Ltd’s scrip zoomed 20 per cent on the Bombay Stock Exchange on Wednesday after its marketing partner Mylan has received US regulator’s nod for abbreviated new drug applications (ANDAs) for Glatiramer Acetate injection.
Natco’s scrip gained 20 per cent over the previous close on the BSE and ended the session at Rs 954.35.
The approved ANDAs for Glatiramer Acetate injection is a substitutable generic version of Teva’s Copaxone indicated for the treatment of patients with relapsing forms of multiple sclerosis, a chronic inflammatory disease of the central nervous system, Hyderabad-based Natco Pharma said in a release issued here.
The launch plans for both products will be communicated shortly after concurring with its parter Mylan, the company said.
Copaxone is the most prescribed treatment for relapsing forms of multiple sclerosis in the united states with brand sales of about $700 million and $3.64 billion for 20 mg/ml dose and 40 mg/ml dose respectively for the 12 months ending July 31, 2017 according to Quintiles IMS.
Approximately 4 lakh individuals in the US have multiple sclerosis and relapsing multiple sclerosis accounts for 85 per cent of initial multiple sclerosis diagnoses.
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