Nifty Pharma index set to post biggest weekly rally in 15 years

At 11:23 am; Nifty Pharma index, the largest gainer among sectoral indices, was up 2.2% at 9,310, surging 8.2% thus far in current week.

Shares of pharmaceutical companies are on a roll with the Nifty Pharma index all set to post its biggest weekly gain in 15 years following the positive news flow from the corporate levels with regard to regulatory issues.

At 11:23 am; the Nifty Pharma index -- largest gainer among sectoral indices, was up 2.2% at 9,310, surging 8.2% thus far in current week. Earlier, in week ended August 31, 2003, the index had recorded 9.1% gain.

Nifty Pharma  index was quoting higher for the eight straight trading days on the National Stock Exchange (NSE). During the period, the pharma index rallied 15% as compared to 2% rise in the benchmark Nifty 50 index.

Dr Reddy’s Laboratories, Lupin, Cadila Healthcare, Sun Pharmaceutical Industries, Aurobindo Pharma and Cipla from the Nifty Pharma index were up in the range of 8% to 14% thus far in the current week. Alembic Pharmaceuticals, Granules India, Marksans Pharma, Ajanta Pharma and Suven Lifesciences, the non-index pharma gained between 9% and 20% during the week.

Dr Reddy’s Labs was up 4% to Rs 2,365 today, after the U.S. Food and Drug Administration (USFDA) approved the first generic versions of Indivior’s Suboxone sublingual film for the treatment of opioid dependence. The stock rallied 14% so far in current week.

Lupin gained 3% at Rs 923, too rallied 14% in past five trading sessions. The company on Thursday it has received approval from the US health regulator to market Drospirenone, Ethinyl Estradiol, Levomefolate Calcium tablets, used to prevent pregnancy, in the American market.

While, during the week, Sun Pharma announced the resolution of regulatory compliance issues at Halol plant, Aurobindo Pharma gained on the back of US FDA (Food and Drug Administration) approval for Omeprazole (used to treat certain stomach and esophagus problems). Both these stocks have gained 8% so far in current week.

COMPANY	LATEST	1-WEEK BEFORE	GAIN(%)
ALEMBIC PHARMA	523.55	435.25	20.29
DR REDDY'S LABS	2358.25	2062.90	14.32
LUPIN	920.50	810.05	13.63
GRANULES INDIA	89.10	78.80	13.07
MARKSANS PHARMA	31.50	27.95	12.70
AJANTA PHARMA	1082.80	976.35	10.90
CADILA HEALTH.	400.75	364.35	9.99
SUVEN LIFE SCIE.	235.20	214.70	9.55
AUROBINDO PHARMA	620.25	572.35	8.37
SUN PHARMA.INDS.	572.00	528.25	8.28
CIPLA	604.75	559.65	8.06
BLISS GVS PHARMA	187.50	173.65	7.98
WOCKHARDT	743.00	689.30	7.79
GLENMARK PHARMA.	597.50	556.75	7.32
DISHMAN CARBOGEN	317.00	295.50	7.28
STRIDES SHASUN	380.50	357.55	6.42
GLAXOSMI. PHARMA	2787.05	2629.90	5.98