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Natco Pharma hits upper circuit

The shares of Natco Pharma jumped by over 20% during Wednesday’s trading session after the company announced that its marketing partner Mylan has received the final nod from USFDA for generic Glatiramer Acetate for both 20 mg/ml and 40 mg/ml versions.

These drugs are indicated for the treatment of patients with relapsing forms of multiple sclerosis (MS), a chronic inflammatory disease of the central nervous system.

The stock was trading up by 20% at Rs 954 per share on BSE at 0935 hours. The stock breached upper circuit at Rs 954.35 per share. The stock touched its intraday high at Rs 954.35 per share and low at Rs 927.65 per share.

The stock has attracted total traded volume of 4,11,273 shares and traded value of Rs 3,900 lakh on NSE. The stock also witnessed a spurt in volume by more than 4.51 times.