 "Pharma shares under pressure;Glenmark hits 52-week low, Sun Pharma falls 6%")
Shares of select pharmaceutical companies were under pressure, falling by up to 6% ahead of US President Donald Trump speech today about controlling prescription drug prices.
Sun Pharmaceutical Industries slipped 6% to Rs 468 on the BSE in noon deal on back of heavy volumes. Novartis India, Marksans Pharma, Ajanta Pharma, Morepen Laboratories, Alkem Laboratories, Sun Pharma Advanced Research Company (SPARC) and Aarti Drugs were down in the range 3% to 4% on the BSE.
At 02:17 pm; S&P BSE Healthcare index was down 1%, while Nifty Pharma index dipped 1.5%, as compared to 0.5% rise in the Sensex and Nifty.
In past one week, Sun Pharma, Wockhardt, Ajanta Pharma and Marksans Pharma slipped in between 9% and 11%. Besides Ajanta Pharma and Marksans Pharma, Glenmark Pharmaceuticals and Granules India hit their respective 52-week lows on the BSE.
According to a Reuters report, US President Donald Trump on Friday will be delivering a speech about lowering prescription drug prices. CLICK HERE TO READ FULL REPORT.
Sun Pharmaceutical Industries slipped 6% to Rs 468 on the BSE in noon deal on back of heavy volumes. Novartis India, Marksans Pharma, Ajanta Pharma, Morepen Laboratories, Alkem Laboratories, Sun Pharma Advanced Research Company (SPARC) and Aarti Drugs were down in the range 3% to 4% on the BSE.
At 02:17 pm; S&P BSE Healthcare index was down 1%, while Nifty Pharma index dipped 1.5%, as compared to 0.5% rise in the Sensex and Nifty.
In past one week, Sun Pharma, Wockhardt, Ajanta Pharma and Marksans Pharma slipped in between 9% and 11%. Besides Ajanta Pharma and Marksans Pharma, Glenmark Pharmaceuticals and Granules India hit their respective 52-week lows on the BSE.
According to a Reuters report, US President Donald Trump on Friday will be delivering a speech about lowering prescription drug prices. CLICK HERE TO READ FULL REPORT.
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