Shares of Natco Pharma today jumped 7.6 per cent as IDFC has initiated coverage of stock with “outperformer’’ rating and a target price of Rs 2,730.
IDFC says that the company is no more just a “generic Copaxone only’’ story.
Copaxone is Teva Pharmaceutical Industries’ top-selling multiple sclerosis drug as US Supreme Court rules for Teva over MS drug patent.
IDFC adds that the generic Hepatitis C drug launch will boost non-US business.
The stock has four “buy’’, one “hold’’ and 1 “sell’’ ratings, according to Thomson Reuters Eikon data.