After being identified as a defendant in an antitrust case in the US on September 8, Natco Pharma’s stock fell 3%.
Regarding pomalidomide, a medication used to treat cancer, Louisiana Health Service and Indemnity Company and HMO Louisiana filed a complaint against the defendant. The business, however, has not provided any other information.
Natco stated in a September 8 exchange filing, “Natco believes this matter is without merit.”
The complaint also names Breckenridge Pharmaceutical, Bristol Myers Squibb, and Celgene Corporation as defendants.
The price of the company’s shares has climbed 45 percent over the past year and 59.14 percent so far this year.
The company reported a year-over-year (YoY) growth in revenue from operations of 26% to Rs 1,140 crore in its results for the April to June quarter. The net profit for the time period rose by 31% YoY to Rs 420 crore. The operational profit margins rose to 46% while rising by 100 basis points.
The activities of Natco Pharma include the development, production, and marketing of finished dosage formulations and pharmaceutical active components.
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