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

Natco Pharma shares rose sharply on Monday after the U.S. FDA granted tentative approval for its generic Olaparib tablets, a bioequivalent version of AstraZeneca’s Lynparza. The drug addresses a $1.4-billion U.S. market opportunity. The company will manufacture the product, while Alembic Pharmaceuticals will handle its U.S. commercialisation.