India's Natco Pharma falls after co named among defendants in antitrust lawsuit in US

Natco Pharma

08/09/2023 08:46

** Shares of Natco Pharma Ltd  NATP.NS  fall as much as 4%
to 878.05 rupees; biggest intraday pct loss since Aug. 2
    ** Co, Celgene Corporation, Bristol Myers Squibb,
Breckenridge Pharmaceutical Inc., among others, named defendants
in antitrust lawsuit in U.S. regarding pomalidomide, a cancer
treatment medication
    ** Co says it believes matter is without merit
    ** More than 894,000 shares change hands by 1:04 p.m. IST,
1.1x the 30-day avg of 822,017 shares
    ** Five of 14 analysts have "buy" or higher rating, six have
"hold", three rate it at "sell" or lower; median PT is 766
rupees - LSEG data
    ** Stock last down 3.1%, cutting year-to-date gains to 57.8%


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))