NATCO receives approval for Chlorantraniliprole (CTPR)-1st key product of Crop Health Sciences Division

Natco Pharma Limited (NSE: NATCOPHARM; BSE: 524816) has announce the registration approval given by Central Insecticide Board & Registration Committee (CIB&RC) recorded in its Minutes of the 425th Meeting held on 25.01.2021, for indigenous manufacture of Chlorantraniliprole (CTPR) Technical 93.00% w/w min. under Section 9(3) of Insecticides Act, 1968. NATCO would be the 1st indigenous manufacturer of this technical product.

CTPR technical is formulated into broad-spectrum insecticides used in several crops for better pest management. NATCO hopes to bring products based on CTPR shortly that would be affordable and accessible to farmers across India.

CTPR is an active ingredient used in products commercialized by FMC under brands Coragen® & Ferterra®. The sales generated from CTPR containing products in India, inclusive of third-party marketing companies, as per declaration given by FMC was estimated to be INR 1540 crores in 2016. NATCO believes the current market size to be over INR 2000 crores. NATCO has a pending litigation against FMC for declaration of freedom to use of CTPR.

Shares of NATCO PHARMA LTD. was last trading in BSE at Rs.901.8 as compared to the previous close of Rs. 893.2. The total number of shares traded during the day was 17317 in over 932 trades.

The stock hit an intraday high of Rs. 910 and intraday low of 890.9. The net turnover during the day was Rs. 15598280.

Source : Equity Bulls

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