NATCO receives final approval for generic Armodafinil tablets for USA market

India Infoline News Service | Mumbai | November 29, 2016 13:20 IST

Natco Pharma Limited informed that the company has received final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (FDA) for generic version of Armodafinil Tablets.

Doctor prescription and medicine
Natco Pharma Limited informed that the company has received final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (FDA) for generic version of Armodafinil Tablets, 50 mg, 150 mg, and 250 mg .

NATCO and its marketing partner Breckenridge Pharmaceutical, Inc., plan to launch this product in the USA market immediately.

Cephalon (acquired by Teva in 2011) sells Armodafinil 50mg, 150mg, and 250mg Tablets under Brand name NUVUGIL in the USA market. NUVUGIL is a wakefulness promoting agent for oral administration. NUVUGIL Tablets had US sales of approximately $ 480 million for twelve months ending December 2015, according to IMS Health.

The scrip opened at Rs 625 and has touched a high and low of Rs 626 and Rs 610.95 respectively. So far 319331(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 10669.38 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 703.95 on 25-Aug-2016 and a 52 week low of Rs 390 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 622.95 and Rs 545 respectively.

The promoters holding in the company stood at 51.28 % while Institutions and Non-Institutions held 25.89 % and 22.83 % respectively.

The stock is currently trading above its 100 DMA.


***Note: This is a NSE Chart

 

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