 "Sanofi India surges as govt withdraws NPPA's power on pricing of non-essential drugs")
Sanofi India has surged 12% to Rs 3,350 on National Stock Exchange after the government withdrew National Pharmaceutical Pricing Authority's power that permitted it to fix prices of non-essential drugs.
The Department of Pharmaceuticals has withdrawn guidelines issued on May 29 that gave the National Pharmaceutical Pricing Authority (NPPA) the powers to fix the prices of drugs that are not on the essential medicines list, the latter said in a notice late on Monday.
Ms. Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking says Sanofi India would have the biggest positive impact with around Rs 139 crore gains in sales.
Zydus Cadila (~Rs 40 crore gain), Ranbaxy (~Rs 38 crore gain), Cipla (~Rs 19 crore gain), Lupin (~Rs 32 crore gain) , Dr Reddy’s Laboratories (~Rs 14 crore gain in sales) and Sun Pharma (~Rs 25 crore) gain in sales), on the basis of AIOCD AWACS, Ms. Nangra says.
It may be recalled that the NPPA had capped prices of 108 cardiac and diabetes drugs on July 10, 2014.
Sanofi India focuses its activities on seven major therapeutic areas, namely – Cardiovascular diseases, Metabolic Disorders, Thrombosis, Oncology, Central Nervous System disorders, Internal Medicine and Vaccines.
The stock opened at Rs 3,130 and touched a high of Rs 3,420 on NSE. A combined 43,664 shares changed hands on the counter so far on NSE and BSE.
The Department of Pharmaceuticals has withdrawn guidelines issued on May 29 that gave the National Pharmaceutical Pricing Authority (NPPA) the powers to fix the prices of drugs that are not on the essential medicines list, the latter said in a notice late on Monday.
Ms. Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking says Sanofi India would have the biggest positive impact with around Rs 139 crore gains in sales.
Zydus Cadila (~Rs 40 crore gain), Ranbaxy (~Rs 38 crore gain), Cipla (~Rs 19 crore gain), Lupin (~Rs 32 crore gain) , Dr Reddy’s Laboratories (~Rs 14 crore gain in sales) and Sun Pharma (~Rs 25 crore) gain in sales), on the basis of AIOCD AWACS, Ms. Nangra says.
It may be recalled that the NPPA had capped prices of 108 cardiac and diabetes drugs on July 10, 2014.
Sanofi India focuses its activities on seven major therapeutic areas, namely – Cardiovascular diseases, Metabolic Disorders, Thrombosis, Oncology, Central Nervous System disorders, Internal Medicine and Vaccines.
The stock opened at Rs 3,130 and touched a high of Rs 3,420 on NSE. A combined 43,664 shares changed hands on the counter so far on NSE and BSE.