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Natco pharma rallies for sixth straight day stock surges 50

Natco Pharma rallies for sixth straight day;

stock surges 50%

Shares of Natco Pharma share Pricehas rallied 7% to Rs 2,196, extending its previous day’s

15% surge on the BSE after the company said it has received the approval for the generic anti-

hepatitis C medicine sofosbuvir tablets of 400 mg from the Drugs Controller General-India

(DCGI).

Today, the stock opened at Rs 2,080 and hit a fresh record high of Rs 2,264 on BSE. The

trading volumes on the counter more than doubled with a combined 526,473 shares changed

hands on the BSE and NSE till 1027 hours.

The stock of pharmaceutical company rose for a sixth straight session after the company

signed a non-exclusive licensing agreement with Gilead Sciences to manufacture and sell

generic versions of its chronic hepatitis C medicines in 91 developing countries. It rallied nearly

50% from Rs 1,492 on March 3, 2015 compared with 2.5% fall in the S&P BSE Sensex.

Meanwhile, Dilip S Shanghvi, the promoter of Sun Pharmaceutical Industries hold 3.46% stake

in Natco Pharma as on December 31, 2014, the shareholding pattern data shows.