 "Dr Reddy’s formulation facility")
Shares of pharmaceuticals companies are trading higher in otherwise subdued market with CNX Pharma index gained 2% in late noon deals on the National Stock Exchange (NSE).
Lupin, Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Cadila Healthcare and Aurobindo Pharma from the CNX Pharma index were up 1%-4%.
Dishman Pharmaceuticals, Suven Life Sciences, Alembic, Jenburkt Pharmaceuticals, SMS Pharmaceuticals, Hester Biosciences and Nectar Lifesciences have rallied more than 4% each.
At 02:39 pm, CNX Pharma index was up 2% or 260 points at 13,178 as compared to a marginal 0.06% rise in the CNX Nifty.
Lupin has rallied to its record high of Rs 2,125, up 4.5% on the NSE. The stock of drug maker has outperformed the market by appreciating 31% from its recent low of Rs 1,618 on July 27. The benchmark index dipped 5% during the same period.
On July 23, Lupin had entered a “definitive agreement to acquire privately-held GAVIS Pharmaceuticals LLC and Novel Laboratories Inc, subject to certain closing conditions, in a transaction valued at $880 million, cash-free and debt-free.
“Post Gavis acquisition, Lupin will extend its product offerings in topical, control substances and gastro intestinal products along with existing product pipeline of ophthal, oral contraceptives, complex injectable and respiratory. With a strong pipeline of 164 products (Gavis + Lupin), US business sales is expected to reach around USD 1.6 billion by FY18 and extend its segment share to 48% of sales from 45% in FY15,” according to Amay Chalke analyst at Motilal Oswal.
Dishman Pharmaceuticals has surged 15% to Rs 368, also its 52-week high on the NSE. The company announced that one of its promoter released pledge shares from the lenders.
“Mr Arpit J Vyas has released/de-pledge 2.56 million shares representing 3.17% of total share capital of the company from STCI Finance on September 29, 2015,” Dishman Pharma said in a regulatory filing.
SMS Pharmaceuticals too gained 7% to Rs 670 after the company said its board will meet on October 09, to consider stock split i.e. sub-division of equity shares as per ratio finalize by the board. The company has face value of Rs 10 per share.
Lupin, Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Cadila Healthcare and Aurobindo Pharma from the CNX Pharma index were up 1%-4%.
Dishman Pharmaceuticals, Suven Life Sciences, Alembic, Jenburkt Pharmaceuticals, SMS Pharmaceuticals, Hester Biosciences and Nectar Lifesciences have rallied more than 4% each.
At 02:39 pm, CNX Pharma index was up 2% or 260 points at 13,178 as compared to a marginal 0.06% rise in the CNX Nifty.
Lupin has rallied to its record high of Rs 2,125, up 4.5% on the NSE. The stock of drug maker has outperformed the market by appreciating 31% from its recent low of Rs 1,618 on July 27. The benchmark index dipped 5% during the same period.
On July 23, Lupin had entered a “definitive agreement to acquire privately-held GAVIS Pharmaceuticals LLC and Novel Laboratories Inc, subject to certain closing conditions, in a transaction valued at $880 million, cash-free and debt-free.
“Post Gavis acquisition, Lupin will extend its product offerings in topical, control substances and gastro intestinal products along with existing product pipeline of ophthal, oral contraceptives, complex injectable and respiratory. With a strong pipeline of 164 products (Gavis + Lupin), US business sales is expected to reach around USD 1.6 billion by FY18 and extend its segment share to 48% of sales from 45% in FY15,” according to Amay Chalke analyst at Motilal Oswal.
Dishman Pharmaceuticals has surged 15% to Rs 368, also its 52-week high on the NSE. The company announced that one of its promoter released pledge shares from the lenders.
“Mr Arpit J Vyas has released/de-pledge 2.56 million shares representing 3.17% of total share capital of the company from STCI Finance on September 29, 2015,” Dishman Pharma said in a regulatory filing.
SMS Pharmaceuticals too gained 7% to Rs 670 after the company said its board will meet on October 09, to consider stock split i.e. sub-division of equity shares as per ratio finalize by the board. The company has face value of Rs 10 per share.
