Eight pharma stocks rose by between 0.06% to 6.63% at 11:42 IST on BSE as rupee edged lower against the dollar.
Meanwhile, the S&P BSE Sensex was up 73.72 points or 0.77% at 26,940.77.
Ranbaxy Laboratories (up 3.15%), Sun Pharmaceutical Industries (up 2.48%), Glenmark Pharmaceuticals (up 1.5%), Cadila Healthcare (up 1.31%), Divi's Laboratories (up 1.18%), Dr Reddy's Laboratories (up 0.06%), and Aurobindo Pharma (up 0.37%) gained.
Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.
Cipla jumped 6.63% to Rs 564.80 on reports the company has launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc's Advair. The stock hit record high of Rs 575.20 in intraday trade.
The partially convertible rupee was hovering at 60.605, compared with its close of 60.525 on Monday, 1 September 2014.
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