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Natco Pharma on Tuesday reported an over six-fold jump in its consolidated net profit to Rs 369 crore in the second quarter ended September 30, 2023.
The Hyderabad-based drug firm had reported a net profit of Rs 57 crore in the July-September period of last fiscal.
Consolidated total revenue rose to Rs 1,061 crore for the period under review, as compared with Rs 453 crore in the year-ago period, Natco Pharma said in a regulatory filing.
The company reported strong performance during the quarter due to growth in formulation exports and increased sales in the domestic agrochemical business, it added.

Press Trust of India

pharma, medicine, drugs

Natco Pharma on Friday said the company and other drug makers have been named defendants in an antitrust lawsuit regarding a generic cancer treatment drug in the US.
The Hyderabad-based drug firm along with Celgene Corporation, Bristol Myers Squibb, Breckenridge Pharmaceutical Inc and others have been named defendants by Louisiana Health Service & Indemnity Company, D/B/A Blue Cross and Blue Shield of Losisiana and HMO Louisiana Inc, regarding anti-cancer treatment medication Pomalidomide.
The company believes this matter is without merit, Natco Pharma said in a statement.
Breckenridge is the abbreviated new drug application (ANDA) holder and distribution partner for the generic product in the US, it added.
Natco Pharma shares were trading 3.13 per cent down at Rs 885.00 apiece on the BSE.

stocks

Stocks to Watch on today, August 31, 2023: Verlinvest Asia PTE is seeking to divest up to a 12.56 per cent stake in Sula Vineyards Ltd  through a block deal today

Business Standard

Natco Pharma's formulations facility in Kothur

Natco Pharma Ltd on Wednesday reported a 31.2 per cent rise in consolidated net profit at Rs 420.3 crore in the first quarter ended June 30, 2023.
The company had posted a consolidated net profit of Rs 320.4 crore in the same period last fiscal, Natco Pharma said in a regulatory filing.
Consolidated revenue from operations during the quarter under review stood at Rs 1,140.5 crore as against Rs 884.6 crore in the year-ago period, it added.
Total expenses were higher at Rs 660.2 crore as compared to Rs 533.1 crore a year ago.
The major drivers of business during the June quarter were formulation exports, strong growth in domestic business of both pharma and agro, and steady sales from subsidiaries, the company said.
Exports of formulations clocked Rs 884.2 crore in the April-June quarter from Rs 736.9 crore a year ago, while domestic formulations registered Rs 132.4 crore, up from Rs 88.5 crore last year, it added.
The active pharmaceutical ingredients segment posted Rs 75.1 crore,

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Natco Pharma's net profit rises 31.2% to Rs 420.3 cr in June quarter