Natco Pharma Gains Overseas Tie-up

Solstice Litha Healthcare had announced on its website on Monday 19 September 2011.

Meanwhile, the BSE Sensex up 182.35 points, or 1.11% to 16,930.70.

On BSE, 9436 shares were traded in the counter compared to an average daily volume of 3193 shares in the last quarter.

The stock reached a high of Rs 256.95 and a low of Rs 246.05 so far. The stock hit a high of Rs 357.90 2 December 2010 and 52 weeks low of Rs 221.40 9 February 2011.

The stock has underperformed the market over the past one month till 19 September 2011, fell by 6.12% compared to Sensex return of 3.74%. The Scriptures also underperformed the market last quarter, falling 8.45% against 6.30% in Sensex fall.

The small-cap pharmaceutical company has a capital of Rs 28.15 crore. The nominal value per share is Rs 10th

Litha Healthcare Group, said the new business unit formed by the Group of generic drugs, the agreement with Natco include a range of generic pharmaceutical products developed and manufactured by Natco Pharma. Litha Pharma, a subsidiary of Litha Healthcare Group, will be responsible for presentation and distribution of products on the market in South Africa and adjacent territories. The product range includes molecules that have presented challenges to other companies, both in development and intellectual property areas.

This agreement strengthens the Group’s strategy to add value and depth of the pipeline generic and demonstrates its commitment to an aggressive growth strategy to become a major supplier of generic medicines in South Africa. We will continue to seek new and exciting opportunities for the group, thanks to our agreement with Capital CPlace based in Canada, which is a major partner in sourcing and supply pipeline of generic products for our Pharmaceuticals Division, said Selwyn Kahanovitz, CEO – Litha Healthcare Group.

Natco Pharma net profit rose 32.5% to Rs 14.03 crore from 0.1% in net sales of Rs 115.99 million rupees in June 2011 in Q1 Q1 June 2010.


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