Among individual stocks, Lupin zoomed 3.4 per cent in the intra-day trade and hit a high of Rs 1,060, Sun Pharmaceuticals advanced 2 per cent, and Dr Reddy's Labs gained 1.7 per cent.
Growth led by power brands and new launches could recover as pandemic impact wanes
While the stock has corrected, valuations leave little room for upside
India revenues grew 7% to stand at Rs 930 cr. Company's consolidated total revenue from operations fell marginally by under 1% to Rs 2,003 cr in Q3FY21
Oct growth rate was 9.6%; Most big corporates saw volumes drop in November
Divestment of the US subsidiary is at good valuations and will help attain net cash positive status
Motilal Oswal analysts also said that while price growth for non-NLEM products stood at 4.8 per cent YoY, NLEM products saw a price rise of 3.6 per cent
Even as overall pharma market was up 5% over the year-ago period, GSK's September sales were down 8%, the firm is banking on recovery led by top brands, new launches
Barring Cipla and Glenmark, whose sales have grown in double digits due to demand for their Covid-19 drugs like favipiravir, tocilizumab, most big players have posted tepid growth
Industry says fresh prescriptions are picking up
Data shows that the Covid-19 crisis impacted the growth rate of the domestic market
The turn around follows deep decline in sales in the preceding months; July sales likely to be flat
Firm says it has been in talks with at least eight buyers, including a few overseas companies, to supply the anti-retroviral drug
Ipca's Zerodol brand and its multiple variants used in treating pain and inflammation are an example of how this trend is playing out
The fifth part of the series looks at what's ailing the pharma sector
For the first time, all chronic therapy drugs grew only in single digits during May
Among top Indian players, Delhi based-Mankind Pharma showed the highest growth at 17.9%
GST, price caps impact sales but drug makers optimistic of growth revival in 2018
Drug makers have offered 6.5-8.5% incentives to stockists