Natco Pharma has launched the generic version of US-based Gilead Sciences' chronic hepatitis C drug in Nepal. The company said it expects to launch the drug in India, subject to approval from Drugs Controller General of India (DCGI).
In a Bombay Stock Exchange (BSE) filing, Natco Pharma said it has launched the first generic version of Sofosbuvir in Nepal.
Sofosbuvir is a medicine used for chronic hepatitis C infection and sold globally by Gilead Sciences, Inc, under its brand Sovaldi.
Last week, Natco Pharma had signed a non-exclusive licensing agreement with Gilead Sciences to manufacture and sell generic versions of its chronic hepatitis C medicines.
The agreement with Gilead allows Natco to expand access to these chronic hepatitis C medicines in 91 developing countries. Natco priced its generic medicine at a maximum retail price of Rs 19,900 for a bottle of 28 tablets in Nepal, the filing added.
Natco, which markets generic Sofosbuvir under the brand Hepcinat, hopes to launch the drug in India soon, subject to approval from the DCGI.
Under the license, Natco can set its own price for the generic products it produces, paying a royalty on sales to Gilead to support product registrations, medical education and training, safety monitoring and other essential business activities.
Natco Pharma shares were trading 2.74 per cent up at Rs 1,555.05 per share during the late morning session on BSE.