 "Pharma shares under pressure; Nifty Pharma index down over 3%")
Shares of pharmaceutical companies were under pressure with the Nifty Pharma index recorded its sharpest intra-day fall in past seven months.
Dr Reddys Laboratories, Sun Pharmaceutical Industries, Glenmark Pharmaceuticals, Cadila Healthcare and Lupin were down between 4% and 5% on the National Stock Exchange (NSE).
Cipla, GlaxoSmithKline Pharmaceuticals, Divis Laboratories, Piramal Enterprises and Aurobindo Pharma from the Nifty Pharma index were down in the range of 1% to 3%.
At 10:33 am, Nifty Pharma index, the largest loser among sectoral indices, was down 3.6% at 10,726, as compared to 0.37% decline in the Nifty50 index. The pharma index hit an intra-day low of 10,629, its lowest level since June 24, 2016. It fallen 4.5% during intra-day trade, recorded sharpest intra-day decline of 5.5% on March 29, 2016.
Thus far in the current calendar year 2016, the pharma index has underperformed the market by falling 10% against 6.6% rise in the benchmark index.
SMS Pharma, Claris Lifesciences, Vimta Labs, Jubilant Life Sciences, Sun Pharma Advanced Research, RPG Life Sciences, Strides Shasun and Aarti Drugs were down 4% to 5% on BSE.
According to media report, U.S. prosecutors are bearing down on generic drug makers into suspected price collusion. LINK
Dr Reddys Laboratories, Sun Pharmaceutical Industries, Glenmark Pharmaceuticals, Cadila Healthcare and Lupin were down between 4% and 5% on the National Stock Exchange (NSE).
Cipla, GlaxoSmithKline Pharmaceuticals, Divis Laboratories, Piramal Enterprises and Aurobindo Pharma from the Nifty Pharma index were down in the range of 1% to 3%.
At 10:33 am, Nifty Pharma index, the largest loser among sectoral indices, was down 3.6% at 10,726, as compared to 0.37% decline in the Nifty50 index. The pharma index hit an intra-day low of 10,629, its lowest level since June 24, 2016. It fallen 4.5% during intra-day trade, recorded sharpest intra-day decline of 5.5% on March 29, 2016.
Thus far in the current calendar year 2016, the pharma index has underperformed the market by falling 10% against 6.6% rise in the benchmark index.
SMS Pharma, Claris Lifesciences, Vimta Labs, Jubilant Life Sciences, Sun Pharma Advanced Research, RPG Life Sciences, Strides Shasun and Aarti Drugs were down 4% to 5% on BSE.
According to media report, U.S. prosecutors are bearing down on generic drug makers into suspected price collusion. LINK
| COMPANY | LATEST | PREV CLOSE | LOSS(%) |
| JUBILANT LIFE | 615.75 | 659.25 | -6.60 |
| SUN PHARMA.INDS. | 666.00 | 703.65 | -5.35 |
| GLENMARK PHARMA. | 864.20 | 912.55 | -5.30 |
| BLISS GVS PHARMA | 152.15 | 159.95 | -4.88 |
| DISHMAN PHARMA. | 228.50 | 239.45 | -4.57 |
| DR REDDY'S LABS | 3113.50 | 3262.35 | -4.56 |
| STRIDES SHASUN | 1073.65 | 1123.65 | -4.45 |
| CADILA HEALTH. | 381.75 | 396.60 | -3.74 |
| AJANTA PHARMA | 1874.45 | 1946.90 | -3.72 |
| FDC | 213.05 | 221.05 | -3.62 |
| LUPIN | 1417.25 | 1470.40 | -3.61 |
| NATCO PHARMA | 556.75 | 577.15 | -3.53 |
| CAPLIN POINT LAB | 367.60 | 381.05 | -3.53 |
| MARKSANS | 47.60 | 49.30 | -3.45 |
| SEQUENT SCIEN. | 122.30 | 126.55 | -3.36 |
| IPCA LABS. | 565.50 | 583.25 | -3.04 |
| WOCKHARDT | 812.00 | 835.50 | -2.81 |
| GRANULES INDIA | 112.30 | 115.50 | -2.77 |
| SUVEN LIFE SCIE. | 180.70 | 185.80 | -2.74 |
| AUROBINDO PHARMA | 749.20 | 769.30 | -2.61 |
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