Natco Pharma shares trade flat on $2 mn investment in US pesticides company

Natco Pharma’s objective of the acquisition is investment for bio control of pest.

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Natco Pharma shares were flat at Rs 912.2 at 10.10 am after the company made an investment of $2 million in Delaware-based ISCA Inc on August 30.

ISCA Inc had a turnover of $9,338,426 for the year ending December 2023. The company was incorporated on September 7, 2019 and manufacture pesticides that disrupt mating patterns in pests and thereby control insect populations.

Natco Pharma’s objective of the acquisition is investment for bio control of pest.

Natco Pharma on July 16 had submitted an Abbreviated New Drug Application, which is a generic version of Erdafitinib Tablets with the US Food and Drug Administrator. Erdafitinib, sold as Balversa in the US by Janssen Biotech, is used for treating advanced urothelial carcinoma. NATCO faces a lawsuit from Janssen Pharmaceutica NV, Janssen Biotech Inc., and Astex Therapeutics Ltd. They claim NATCO’s ANDA might be the first to file, possibly granting 180 days of marketing exclusivity upon launch.

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Natco Pharma’s net profit increased 31 percent year-on-year (YoY) to Rs 420 crore in the April-to-June quarter. Revenue for the company increased 28 percent YoY to Rs 1140 crore in the same period.
Natco Pharma is engaged in developing, manufacturing, and marketing of therapeutic areas and complex products.

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