Shares of pharmaceutical
companies are on a roll with the Nifty Pharma
index all set to post its biggest weekly gain in 15 years following the positive news flow from the corporate levels with regard to regulatory issues.
At 11:23 am; the Nifty Pharma
index -- largest gainer among sectoral indices, was up 2.2% at 9,310, surging 8.2% thus far in current week. Earlier, in week ended August 31, 2003, the index had recorded 9.1% gain.
Nifty Pharma index was quoting higher for the eight straight trading days on the National Stock Exchange (NSE). During the period, the pharma index rallied 15% as compared to 2% rise in the benchmark Nifty 50 index.
Dr Reddy’s Laboratories, Lupin, Cadila Healthcare, Sun Pharmaceutical
Industries, Aurobindo Pharma
from the Nifty Pharma
index were up in the range of 8% to 14% thus far in the current week. Alembic Pharmaceuticals, Granules India, Marksans Pharma, Ajanta Pharma and Suven Lifesciences, the non-index pharma gained between 9% and 20% during the week.
Dr Reddy’s Labs was up 4% to Rs 2,365 today, after the U.S. Food and Drug Administration (USFDA) approved the first generic versions of Indivior’s Suboxone sublingual film for the treatment of opioid dependence. The stock rallied 14% so far in current week.
gained 3% at Rs 923, too rallied 14% in past five trading sessions. The company on Thursday it has received approval from the US health regulator to market Drospirenone, Ethinyl Estradiol, Levomefolate Calcium tablets, used to prevent pregnancy, in the American market.
While, during the week, Sun Pharma announced the resolution of regulatory compliance issues at Halol plant, Aurobindo Pharma
gained on the back of US FDA (Food and Drug Administration) approval for Omeprazole (used to treat certain stomach and esophagus problems). Both these stocks have gained 8% so far in current week.