Natco Pharma's Share Price Rises 3% as USFDA Gives Clean Chit to Pharmacovigilance Department

2 Nov 2023 , 11:26 AM

Natco Pharma’s share price increased by 3 percent in early trading on November 2 due to a favorable evaluation by the United States Food and Drug Administration (USFDA). The USFDA inspected the company’s pharmacovigilance department, located at its corporate office in Hyderabad, during the period from October 30, 2023, to November 1, 2023.

The inspection focused on the company’s pharmacovigilance procedures for its global products, especially those marketed in the United States, and it was found to be in compliance with USFDA requirements.

Previously, in October, the USFDA had issued eight observations for the company’s Hyderabad unit after an inspection. In September, Natco Pharma became a defendant in an antitrust lawsuit in the United States, initiated by Louisiana Health Service and Indemnity Company and HMO Louisiana. The lawsuit pertains to pomalidomide, a drug used in cancer treatment.

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