Shares of eight pharma stocks rose by 0.08% to 1.69% at 12:40 IST on BSE on weak rupee.
Meanwhile, the S&P BSE Sensex was up 30.27 points or 0.12% at 25,074.70.
Among pharma stocks, Sun Pharmaceutical Industries (up 1.34%), Aurobindo Pharma (up 1.69%), Cipla (up 0.08%), Lupin (up 0.47%), Dr Reddy's Laboratories (up 1.01%), Divi's Laboratories (up 1.07%), and Cadila Healthcare (up 1.39%) gained.
Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.
In the foreign exchange market, the partially convertible rupee was hovering at 66.99, compared with closing of 66.89 during the previous trading session.
Natco Pharma rose 1.19% after the company and its partner Alvogen announced today, 14 December 2015 that they have settled the patent infringement suit filed by Gilead Sciences, Inc., Hoffmann-La Roche Inc., F. Hoffmann-La Roche and Genentech, Inc. against Alvogen and Natco in New Jersey District Court. The announcement was made during trading hours today, 14 December 2015. Natco Pharma and Alvogen had partnered on the first Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic versions of Tamiflu oral capsules (oseltamivir phosphate), 30 mg, 45 mg and 75 mg.
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