Sanofi India has dipped 10% to Rs 2,927 on National Stock Exchange (NSE) after the drug pricing regulator, National Pharmaceutical Pricing Authority (NPPA) bought anti-diabetic and cardiac medicines under price control.
The stock opened at Rs 3,150 and touched a low of Rs 2,911 on NSE. A combined 24,410 shares changed hands on the counter so far on NSE and BSE.
The NPPA has released another list of molecules under price control vide order dated 10.07.2014, which brings strengths of molecules of Gliclazide, Glimepiride, Sitagliptin, Voglibose, Amlodipine, Telmisartan, Rosuvastatin to name a few having a high value in the chronic space.
With this list the total market of Cardiac molecules under price control including the earlier released stands at 57.48% & Anti-diabetic market at 20.99%.
The biggest impact will be felt for multinational companies like Sanofi (Rs 139 crore lost sales) on the basis of AIOCD AWACS, says Ms. Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking in a client note.
The stock opened at Rs 3,150 and touched a low of Rs 2,911 on NSE. A combined 24,410 shares changed hands on the counter so far on NSE and BSE.
The NPPA has released another list of molecules under price control vide order dated 10.07.2014, which brings strengths of molecules of Gliclazide, Glimepiride, Sitagliptin, Voglibose, Amlodipine, Telmisartan, Rosuvastatin to name a few having a high value in the chronic space.
With this list the total market of Cardiac molecules under price control including the earlier released stands at 57.48% & Anti-diabetic market at 20.99%.
The biggest impact will be felt for multinational companies like Sanofi (Rs 139 crore lost sales) on the basis of AIOCD AWACS, says Ms. Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking in a client note.