Pharma shares in demand on governmental boost

Marksans Pharma, Elder Pharma, Bliss GVS Pharma, Novartis, Vivimed Labs and Claris Lifesciences were up 5%-20% each.

Shares of pharmaceutical companies were in demand and were trading higher by up to 20% on the bourses.

From the frontline pharma stocks - Cipla and Dr Reddy’s Laboratories were up 4% each at Rs 655 and Rs 3,715 respectively, while Divi’s Laboratories, Aurobindo Pharma, Lupin and Sun Pharmaceutical Industries gained 1%-2% each on the National Stock Exchange (NSE).

Marksans Pharma ( 20% at Rs 84.60), Elder Pharmaceuticals (20% at Rs 118), Bliss GVS Pharma (8% at Rs 171), Vivimed Labs (7% at Rs 232), Claris Lifesciences (7% at Rs 249), Novartis (6% at Rs 815) and Dishman Pharmaceuticals (5% at Rs 172) were some small-cap pharma stocks that surged 5%-20% each.

At 1530 hours, the CNX Pharma index was up 1.6% or 199 points at 12,464 compared to a 0.44% rise in the CNX Nifty.

According to a PTI report, the government has taken several measures, including setting up of an inter-departmental committee to look into export-related issues and conducting awareness programmes in emerging markets such as Africa, in an effort to boost pharmaceutical exports.

The pharmaceutical sector has a huge potential in terms of increasing exports and the Commerce Ministry is therefore taking many measures to boost overseas shipments, a ministry official said. The official said an inter-ministerial committee to resolve export-related issues has been set up, the report added. CLICK HERE TO READ FULL REPORT