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    Natco Pharma rises 4% on receiving court order to launch Chlorantraniliprole

    Synopsis

    Natco is the first company in India to have received its registration approval given by the Central Insecticide Board & Registration Committee (CIB&RC) for indigenous manufacture of Chlorantraniliprole (CTPR) Technical 93 per cent w/w min. under Section 9(3), said Natco Pharma in a BSE filing.

    Natco Pharma rises 4% on receiving court order to launch ChlorantraniliproleAP
    Shares of Natco Pharma rallied over 3.5 per cent in Tuesday’s trade after the drug maker said it has received a court order allowing it to launch insecticide Chlorantraniliprole (CTPR) and its formulations. An order from the Delhi High Court allowed the company to launch the insecticide through a non-infringing process.

    Natco is the first company in India to have received its registration approval given by the Central Insecticide Board & Registration Committee (CIB&RC) for indigenous manufacture of Chlorantraniliprole (CTPR) Technical 93 per cent w/w min. under Section 9(3), said Natco Pharma in a BSE filing.

    At 9:48 am, the stock was trading 2.30 per cent higher at Rs 652.05 over the last day’s closing of Rs 637.40 a piece. The stock has fallen nearly 30 per cent in the last year, while it is down nearly 20 per cent in the past six months.

    Natco estimates the current market size of CTPR-containing products in India to be over Rs 2,000 crores. The company plans to launch its products very shortly, it added.

    CTPR technique is formulated into broad-spectrum insecticides used across a wide range of crops for pest management.




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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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