Mumbai: Natco Pharma announced on 26 June that it has received US Food & Drug Administration (USFDA) approval for its anti-cancer drug Ondansetron Hydrochloride tablets in multiple strengths.
Ondansetron Hydrochloride tablets, a popular anti-emetic that is commonly used by cancer patients, got USFDA approval in 4 mg and 8 mg strengths.
“This is our first drug to be approved by the USFDA and with this approval, the company expects to fortify its presence in the US markets,” the pharmaceutical company said in a communique to the Bombay Stock Exchange.
The company expects that the market for Ondansetron generics in the US would be about $1.5 billion (Rs 6,144 crore).
Natco Pharma said it was establishing a retail chain in the US and hoped that the chain would serve in distributing and marketing its approved products.
Shares of the pharma company were last trading 5.45% up at Rs146 on the BSE. After opening at Rs139.70 in the morning, Natco’s shares jumped more than 10% over the previous close and touched an intra-day high of Rs152.80 on the bourse.