Natco Pharma has announced satisfactory performance during the year ended March 2007 with net profit growth of 28 per cent to Rs 30.47 crore from Rs 23.80 crore in the previous year. The company's net sales increased by 12.1 per cent to Rs 180.22 crore from Rs 160.79 crore. The earning per share improved to Rs 11.02 from Rs 8.76 in the last period.
As against the equity capital of Rs 27.64 crore, Natco's reserves & surplus amounted to Rs 152.50 crore as at the end of March 2007.
Natco manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets. The product range is constantly expanded through its own R&D initiative, basic research and also through joint ventures, technology transfers and collaborations.
The Hyderabad based Natco Pharma application for abbreviated new drug (ANDA) for Ondansetron Hydrochloride tablets in multiple strengths (4 mg and 8 mg) has been approved by the US FDA during June 2007. As a consequence, Natco can now sell its Ondansetron tablets in the United States. It has already shipped out the first consignment of these tablets meant for distribution in the USA through its marketing partners. Ondansetron Hydrochloride is a popular anti-emetic, commonly used by cancer patients. The market for Ondansetron generics, all over the US is expected to be in the region of around US $1.5 billion.
For Natco, this is the first drug to be approved by the US FDA and its ANDAs for other drugs are under various stages of approval. With these approvals coming through, Natco expects to fortify its presence in the US markets. Natco is in the process of establishing a retail chain in the US and hopes that the chain would serve a useful purpose in distributing and marketing its approved products.