Natco Pharma rises nearly 2% after mid-cap firm submits application for Rimegepant Sulfate tablets to US FDA

Natco Pharma Share Price: Natco Pharma jumped by nearly two per cent on BSE on Friday (May 31, 2024) after the company said that it had submitted the application to US FDA for its Abbreviated New Drug Application (ANDA). 

Natco Pharma shares that closed trading at Rs 1,020.15 each a day ago started the trading session on Friday up by 1.92 per cent at Rs 1039.75 apiece, which turned out to be its highest price for the day.

The Natco Pharma stock, however, slipped and was trading lower by 1.52 per cent, or Rs 15.50, at Rs 1,004.65 at 10:37 am on Friday.

In a statement on Thursday, Natco Pharma said: "Natco Pharma Limited (NSE: NATCOPHARM; BSE: 524816) announces submission of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification with the U.S. Food and Drug Administration (FDA) for the generic version of Rimegepant Sulfate tablet Eq 75mg base strength."

Rimegepant is currently indicated for the acute treatment of migraine with or without aura in adults and for the preventive treatment of episodic migraine in adults.

Rimegepant Sulfate tablets are marketed in the United States (US) by Pfizer Inc. under the brand name NURTEC ODT®, the company said in the statement. 

NURTEC ODT® has recorded sales of USD 908 million in the US market for the year ending December 2023, as per Pfizer financial result presentational.