 "Nifty Pharma index hits 2016 highs")
Shares of pharmaceuticals companies were in focus for the second straight day with the Nifty Pharma index hitting 2016 highs on the National Stock Exchange (NSE) in intra-day trade today on the back of slew of positive announcements.
At 10:25 AM, Nifty Pharma index was up 0.25% at 11,955, as compared to 0.01% decline in the Nifty 50 index. The pharma index touched intra-day high of 12,012, its highest level since December 31, 2015.
Aurobindo Pharma, Cipla, Cadila Healthcare and Sun Pharmaceuticals Industries from the Nifty Pharma index were trading higher by 1% each on the NSE.
Wockhardt, Suven Life Sciences, Aarti Drugs, Merck, Vimta Labs, Torrent Pharmaceuticals, Dishman Pharmaceuticals & Chemicals, Hikal, Jubilant Life Sciences and Fortis Healthcare from the S&P BSE Healthcare index up between 2%-6% on the Bombay Stock Exchange (BSE).
On Wednesday, Nifty Pharma & S&P BSE Healthcare index ended 2% higher against less than 1% gain each in the benchmark indices.
Sun Pharmaceutical Industries, Aurobindo Pharma and Glenmark Pharmaceuticals on yesterday announced that they have received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market generic versions of a blockbuster cholesterol drug, Crestor, in the American market.
According to IMS Health, a global information and technology services company, this drug has had annual sales of $6.8 billion in the US itself.
Suven Life Sciences today announced that its Pashamylaram’s unit successfully completes USFDA inspection.
The company said it has undergone USFDA renewal inspection at their facility in Pashamylaram near Hyderabad for the manufacture and supply of active pharmaceutical ingredients (bulk drugs), intermediates and formulations under cGMP during April 4th through 14th 2016.
Based on the inspection and the review thereafter US-FDA has concluded that the inspection is “closed” under 21CFR20.64 (d) (3) and the agency has issued an establishment inspection report (EIR) for Suven facility at Pashamylaram dtd July 15, 2016, it added.
Earlier, this month, three Indian pharma companies - Lupin, Cadila Healthcare and Alembic Pharmaceuticals - had received EIR from the USFDA for inspections carried out at their respective facilities.
“Although a negative outcome at Cadila Healthcare’s Moraiya and Lupin’s Goa facility still cannot be ruled out, the probability of it has come down following these EIR reports,” Motial Oswal Securities said in report dated July 8, 2016.
Meanwhile, Wockhardt has rallied 9% to Rs 1,129 on the BSE in intra-day trade, extending its 13% surge on back of heavy volumes. Trading volumes on the counter jumped more than three-fold with a combined 3.6 million shares changed hands till 10:43 AM, against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
At 10:25 AM, Nifty Pharma index was up 0.25% at 11,955, as compared to 0.01% decline in the Nifty 50 index. The pharma index touched intra-day high of 12,012, its highest level since December 31, 2015.
Aurobindo Pharma, Cipla, Cadila Healthcare and Sun Pharmaceuticals Industries from the Nifty Pharma index were trading higher by 1% each on the NSE.
Wockhardt, Suven Life Sciences, Aarti Drugs, Merck, Vimta Labs, Torrent Pharmaceuticals, Dishman Pharmaceuticals & Chemicals, Hikal, Jubilant Life Sciences and Fortis Healthcare from the S&P BSE Healthcare index up between 2%-6% on the Bombay Stock Exchange (BSE).
On Wednesday, Nifty Pharma & S&P BSE Healthcare index ended 2% higher against less than 1% gain each in the benchmark indices.
Sun Pharmaceutical Industries, Aurobindo Pharma and Glenmark Pharmaceuticals on yesterday announced that they have received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market generic versions of a blockbuster cholesterol drug, Crestor, in the American market.
According to IMS Health, a global information and technology services company, this drug has had annual sales of $6.8 billion in the US itself.
Suven Life Sciences today announced that its Pashamylaram’s unit successfully completes USFDA inspection.
The company said it has undergone USFDA renewal inspection at their facility in Pashamylaram near Hyderabad for the manufacture and supply of active pharmaceutical ingredients (bulk drugs), intermediates and formulations under cGMP during April 4th through 14th 2016.
Based on the inspection and the review thereafter US-FDA has concluded that the inspection is “closed” under 21CFR20.64 (d) (3) and the agency has issued an establishment inspection report (EIR) for Suven facility at Pashamylaram dtd July 15, 2016, it added.
Earlier, this month, three Indian pharma companies - Lupin, Cadila Healthcare and Alembic Pharmaceuticals - had received EIR from the USFDA for inspections carried out at their respective facilities.
“Although a negative outcome at Cadila Healthcare’s Moraiya and Lupin’s Goa facility still cannot be ruled out, the probability of it has come down following these EIR reports,” Motial Oswal Securities said in report dated July 8, 2016.
Meanwhile, Wockhardt has rallied 9% to Rs 1,129 on the BSE in intra-day trade, extending its 13% surge on back of heavy volumes. Trading volumes on the counter jumped more than three-fold with a combined 3.6 million shares changed hands till 10:43 AM, against an average sub one million shares that were traded daily in past two weeks on the BSE and NSE.
| Company | 30/06/2016 | LTP | % chg |
| Cadila Health. | 328.20 | 375.05 | 14.27 |
| Piramal Enterp. | 1446.05 | 1641.00 | 13.48 |
| Lupin | 1539.70 | 1704.00 | 10.67 |
| Aurobindo Pharma | 742.50 | 808.50 | 8.89 |
| Dr Reddy's Labs | 3381.70 | 3643.00 | 7.73 |
| Glenmark Pharma. | 799.05 | 859.25 | 7.53 |
| Divi's Lab. | 1109.65 | 1186.00 | 6.88 |
| Sun Pharma.Inds. | 763.10 | 805.05 | 5.50 |
| Cipla | 501.00 | 524.05 | 4.60 |
| Glaxosmit Pharma | 3487.40 | 3400.00 | -2.51 |
| Nifty Pharma | 11142.00 | 11961.45 | 7.35 |
| Nifty 50 | 8287.75 | 8569.65 | 3.40 |
| LTP : Last traded price on NSE in Rs at 11:03 AM | |||
