Natco Pharma shares surge 5% after US FDA's tentative nod Olaparib tablets

Natco Pharma shares climbed as much as 4.5% on Monday, touching an intraday high of Rs 987.55 on the NSE, after the company announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its generic version of Olaparib Tablets.

The pharmaceutical company informed exchanges that the U.S. FDA has granted tentative approval for Olaparib Tablets in 100 mg and 150 mg strengths, which are bioequivalent to AstraZeneca's drug Lynparza. The approval covers the indications specified in the reference-listed drug's approved labelling.