Natco Pharma shares soar 15 per cent

MUMBAI: Shares of Natco Pharma soared 15 per cent today after the company received approval from the national drug regulator for marketing generic sofosbuvir tablets that are used to treat hepatitis C.

After surging 19 per cent to its 52-week high at Rs 2,132.60 in intra-day trade, shares of Natco closed at Rs 2,056.85, up by 14.78 per cent from its previous close on BSE.

On the NSE, the stock soared to 15.08 per cent to finally settle at Rs 2,059.95 a piece.

The company's market value increased by Rs 880.91 crore to Rs 6,835.91 crore.

The company has received approval for generic sofosbuvir tablets in the strength of 400 mg from Drugs Controller General (India), Natco Pharma said in a filing to the BSE.

"Natco will market generic sofosbuvir under its brand HEPCINAT and through strategic partners in India," it added.

Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences Inc, under its brand Sovaldi.