Sanofi India gains 15% in two trading sessions

The stock has gained 4%, extending its 11% rally on Tuesday, after the govt withdrew NPPA's power to fix prices of non-essential drugs

Sanofi India has gained 4%, extending its 11% rally in the previous session, as the company would benefit the most after the government withdrew National Pharmaceutical Pricing Authority's power that permitted it to fix prices of non-essential drugs.

Ms. Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking says Sanofi India would have the biggest positive impact with around Rs 139 crore gains in sales.

It may be recalled that the NPPA had capped prices of 108 cardiac and diabetes drugs on July 10, 2014.

Sanofi India focuses its activities on seven major therapeutic areas, namely – Cardiovascular diseases, Metabolic Disorders, Thrombosis, Oncology, Central Nervous System disorders, Internal Medicine and Vaccines.

The stock opened at Rs 3,365 on the NSE and touched a high of Rs 3,490 so far. Over 26,000 shares were traded on both the stock exchanges so far.