 "Aurobindo Pharma wrests second position among drug firms from Lupin")
Shares of pharmaceutical companies were trading higher for a seventh consecutive session on Thursday, with the Nifty Pharma index gaining 12% during this period, compared to a 2% rise in the Nifty 50 index.
At 03:16 pm; the Nifty Pharma index, the sole gainer among sectoral indices, was up 2% at 9,124 on the National Stock Exchange (NSE). The index hit an intra-day high of 9,132, bouncing back 2.3% from its early morning low of 8,923. On comparison, the Nifty 50 index was trading 0.49% lower at 10,803.
Analysts attribute the run-up to positive corporate announcements on the US drug regulatory front.
Aurobindo Pharma was up 4% to Rs 611, extending its 10% rally in past seven trading days. On Friday, June 8, the company announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Omeprazole delayed-release tablets OTC, 20mg.
Omeprazole tablets are indicated for the treatment of frequent heartburn (occurs 2 or more days a week). The estimated market size of Prilosec OTC tablets is US$ 222 million for the twelve months ending March 2018, according to Nielsen data.
Lupin was up 3% to Rs 897, surging 18% in past seven trading sessions, after the company today announced that it has received final approval fonts Drospirenone, Ethinyl Estradiol, Levomefolate Calcium Tablets and LevomefolateCalcium Tablets, 3 mg/0.02 mg/0.451 mg and 0.451 mg, from the USFDA to market a generic version of Bayer HealthCare Pharmaceutical Inc.'s (Bayer) Beyaz tablets.
At 03:16 pm; the Nifty Pharma index, the sole gainer among sectoral indices, was up 2% at 9,124 on the National Stock Exchange (NSE). The index hit an intra-day high of 9,132, bouncing back 2.3% from its early morning low of 8,923. On comparison, the Nifty 50 index was trading 0.49% lower at 10,803.
Analysts attribute the run-up to positive corporate announcements on the US drug regulatory front.
Aurobindo Pharma was up 4% to Rs 611, extending its 10% rally in past seven trading days. On Friday, June 8, the company announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Omeprazole delayed-release tablets OTC, 20mg.
Omeprazole tablets are indicated for the treatment of frequent heartburn (occurs 2 or more days a week). The estimated market size of Prilosec OTC tablets is US$ 222 million for the twelve months ending March 2018, according to Nielsen data.
Lupin was up 3% to Rs 897, surging 18% in past seven trading sessions, after the company today announced that it has received final approval fonts Drospirenone, Ethinyl Estradiol, Levomefolate Calcium Tablets and LevomefolateCalcium Tablets, 3 mg/0.02 mg/0.451 mg and 0.451 mg, from the USFDA to market a generic version of Bayer HealthCare Pharmaceutical Inc.'s (Bayer) Beyaz tablets.
