| 15-Dec | Daily chg (%) | Weekly chg (%) | Monthly chg (%) |
Torrent Pharma | 862 | -2.04 | 11.82 | 43.55 |
GSK Pharma | 1081 | -3.56 | -3.07 | 14.37 |
Sun Pharma | 703 | -1.34 | 3.13 | 13.73 |
Cipla | 430 | 0.48 | 0.70 | 12.68 |
Glenmark Pharma | 311 | 2.05 | 3.77 | 6.09 |
Dr Reddy | 930 | -2.02 | 0.73 | -0.96 |
Ranbaxy | 387 | -2.93 | 2.92 | -1.40 |
Biocon | 499 | 3.38 | 1.75 | -2.15 |
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While, Sun Pharma has appreciated by 13.73 per cent, Cipla advanced by 12.68 per cent, GSK Pharma went up 14.37 per cent, Torrent Pharma moved up 43.55 per cent while Glenmark Pharma saw a 6.09 per cent spurt. |
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Analysts believe that Thursday's correction at the bourses is a short-term correction, considering the sharp rise in pharma stock prices in the last fortnight. |
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Market participants expect next year, (FY07), to be better for the pharma sector in India. The sector results during September FY06 quarter, was a mixed bag. Ranbaxy posted a negative bottomline of Rs 10.8 crore, while peer Dr Reddy's posted a 176 per cent growth in bottomline. Cipla posted a moderate 28 per cent bottomline growth, even as Sun Pharma posted a 49 per cent growth in bottomline. |
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Positive news flow in select counters have also added luster to stock prices. For instance, Glenmark Pharma got into a deal with a US company to develop drugs, which boosted its stock price on the bourses. |
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The stock rallied on buying interest following the deal under which the company will jointly develop and market seven generic drugs with US-based InvaGen Pharmaceuticals Inc. |
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Glenmark Pharma focuses on dermatology, gynecology, respiratory, gastrointestinals and lifestyle diseases like diabetes and cardiology. Earlier this year, the company's wholly owned subsidiary, Glenmark Pharmaceuticals S.A [Switzerland] filed for Phase I clinical trials for GRC 8200. However, the company posted a 52 per cent fall in bottomline during the September quarter. |
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Torrent Pharma ended the day with a fall, but after touching a 52-week high of Rs 929. The company's board met on Thursday to consider the issue of bonus shares and a stock-split. |
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The company is a prominent player in the therapeutic area related to cardiovascular and central nervous system. Moreover, it recently signed an agreement with Novo Nordisk to establish a new and dedicated formulation and packaging facility for insulin. |
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Analysts point out that Biocon's margins are expected to be less than 30 per cent for the year FY06. However since the market has already factored in the same, the stock has not witnessed any major fall. |
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