Natco Pharma gains after court waves through insecticide launch

Natco Pharma said it is the first company in India to have received registration approval from Central Insecticide Board & Registration Committee for indigenous manufacture of chlorantraniliprole technical 93.00 percent w/w min.

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Natco Pharma share price added more than three percent intraday on September 20 after the company received a Delhi high court approval for launch of chlorantraniliprole and its formulations through a non-infringing process.

Natco Pharma said it is the first company in India to have received registration approval from Central Insecticide Board & Registration Committee for indigenous manufacture of chlorantraniliprole technical 93.00 percent w/w min.

Chlorantraniliprole technical is formulated into insecticides used across a wide range of crops for pest management, it added.

The company estimates the current market size of products containing  chlorantraniliprole in India to be over Rs 2,000 crore.

It plans to launch its products very shortly.

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At 09:45 hrs Natco Pharma was quoting at Rs 653, up Rs 15.60 or 2.45 percent on the BSE.

The share touched a 52-week high of Rs 942.15 and a 52-week low of Rs 600.10 on 17 January and 12 September respectively.

Currently, it is trading 30.69 percent below its 52-week high and 8.82 percent above its 52-week low.