Mid-cap pharma company – Natco Pharma shares jumped 9 per cent to touch day’s high level of Rs 920 per share on the BSE intraday during Tuesday’s sessions. At 10:40 am, the scrip gained over 3 per cent to Rs 872.45 per share, as compared to 0.15 per cent decline in the S&P BSE Sensex. 

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The surge in the stock comes on the back of the launch of its first generic version of Revlimid (Lenalidomide capsules) in 5 mg, 10 mg, 15 mg, and 25 mg strengths in the US market. Natco, along with marketing partner Teva, has launching these strengths of lenalidomide. 

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The strengths of lenalidomide capsules are prescribed in adults for the treatment of multiple myeloma in combination with the medicine dexamethasone, certain myelodysplastic syndromes, and mantle cell lymphoma following specific prior treatment, Natco said in an exchange filing. 

The stock of Natco has surged 20 per cent in past seven trading days. It had hit a 52-week high of Rs 1,188.95 apiece on May 24, 2021, and Rs 750.45 apiece as 52-week low on February 02, 2022. 

The scrip In the last three months has outperformed the market by gaining 8 per cent, as against to a 8 per cent decline in the benchmark index. 

According to ICICI Direct report, “Natco has, over the years, developed a knack for manufacturing complex generic products with few competitors, especially for the US market and India formulations mainly comprise oncology products (+33 launches).” 

The brokerage firm expected momentum from FY23 on the back of some high profile launches in the US, rebound in domestic business and contribution from crop division 

Natco is a leading player in domestic oncology segment with 33 products and new launches in cardio/diabetology segment is expected to support growth, it said.