Pharma shares in demand; Cipla, Laurus Labs, Dr Lal Pathlabs hit new highs

Analysts at Phillip Capital believe that it is not over for the Indian pharma - and that it is all set for a sectoral value upgrade

Shares of pharmaceutical, including healthcare facilities companies, were in demand at the bourses on Monday, with the S&P BSE Healthcare index hitting a new high after the government banned export of antiviral drug, Remdesivir (injection and API both) in order to address increased demand in view of rising Covid-19 cases in the country.

The domestic manufactures of the drug include Cipla, Cadila Healthcare, Dr Reddy's, Sun Pharma, Jubilant, Syngene (API), Divis Laboratories (API) among others.

Cipla and Laurus Labs from the pharmaceuticals and Dr Lal Pathlabs and Metropolis Healthcare from the healthcare facilities sector hit their respective record