With the news of receiving an approval from the US Food and Drug Administration for its anti-ulcer drug, the shares of Natco Pharma have hit a high by surging over 6 percent and reaching to Rs 498.90 on Wednesday.

US drug regulator has recently released its approval for the abbreviated new drug application (ANDA) for Lansoprazole, which will soon release capsules in 15 mg and 30 mg strength for the prescription market.

The approved drug is a generic version of Prevacid that is marketed by Takeda Pharmaceuticals and the approval has allowed Natco Pharma for the manufacturing as well as supplying of the delayed capsules to US-based Breckenridge Pharmaceutical Inc.

For the knowledge of all, Natco is partners with Breckenridge for marketing the drug in the US. The issue was ongoing since early this year, when a landmark judgment from India's Patent Office, allowed a compulsory license to Natco Pharma from Bayer for patent protected anti-cancer drug Nexavar that is chemically known as Sorafenib. But last month, India's patents appeal board dismissed British pharma major AstraZeneca's petition that challenged the earlier ruling that refused patent protection to one of the cancer treatment drug of it.

Finally, Natco Pharma Ltd will soon serve with its Abbreviated New Drug Application for Lansoprazole Delayed Release Capsules, which will be used for the treatment of gastric (stomach) ulcers.