Pharma funds remain in poor health amid headwinds on compliance

The BSE Healthcare Index has fallen 10 per cent in the last one year

Despite hopes of a revival last year, pharma funds remain laggards among sectoral funds amid headwinds on the compliance and pricing front in the US.

Pharma funds have shed 5.1 per cent during the last three months and have declined 2.4 per cent in a year. Fund houses such as ICICI Prudential, DSP, IDBI and Mirae Asset have launched their pharma and healthcare fund offerings over the past year, expecting a change in fortunes.

Aditya Birla Sun Life is the latest entrant, with the offering of its pharma and healthcare fund closing on Wednesday.

Pharma stocks had rallied briefly in