Shares of Cipla and Glenmark Pharmaceuticals rose by 1.32% to 1.85% on reports that both these companies received regulatory approval for increasing price of two of their respiratory products.
Cipla rose 1.32% to Rs 470.70 while Glenmark Pharmaceuticals rose 1.85% to Rs 346.70.
Meanwhile, the Nifty Pharma index added 0.93% to 8,070.35, underperforming the benchmark Nifty 50 index which was up 152.75 points or 1.27% to 12,178.10.
According to the media report, the National Pharmaceutical Pricing Authority's (NPPA) has allowed Cipla and Glenmark to enhance pricing of two of their respiratory (inhaler) products on grounds that these were 'innovative' from the other similar products available in the market.
In a meeting in December, the National Pharmaceutical Pricing Authority's (NPPA) expert committee reportedly decided to allow Cipla's Synchrobreathe Inhaler Device a separate price other than the ceiling price already recommended by the regulator.
Similarly, for Glenmark's digital dose counter (sold under brand name Digihaler) the NPPA agreed to allow a different price, the report added.
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