Nifty Pharma index up 11% from May's low

At 12:05 pm; the Nifty Pharma index was up 1.3% at 9,703, surging 11% from 8,758 hit on May 29, 2017

Shares of pharmaceutical companies were back in focus with Nifty Pharma index rallying more than 10% from its May’s low, while Nifty 50 index remain unchanged during the same period.

In the last three days, Aurobindo Pharma, Cadila Healthcare and Sun Pharmaceutical Industries received  the US Food and Drug Administration (USFDA) approval for their respective drugs, while Dr Reddy’s Laboratories received Establishment Inspection Report (EIR) from the US health regulator for its Miryalaguda plant.

At 12:05 pm; the Nifty Pharma index, the largest gainer among sectoral indices, was up 1.3% at 9,703. The index surged 11% from its