Pharma shares lose nearly Rs 60,000 crore in one week

Nifty Pharma index down 10.6% during current week, set to post its sharpest decline since Oct 2008

Investors in pharmaceutical companies have seen wealth erosion of nearly Rs 60,000 crore during the week after a sharp decline in market values of these stocks.

The combined market capitalisation (m-cap) of pharmaceutical companies, which featuring in Nifty Pharma and S&P BSE Healthcare index, has declined by Rs 59,411 crore to Rs 725,697 crore today at 02:45 pm. These companies had total m-cap of Rs 785,108 crore on Friday, May 19, 2017.

Nifty Pharma index trading at three-year low is set to report its biggest fall on weekly basis. The index decline 10.6% thus far in current week,