Drugmakers fall on government price control policy

Reuters Market Eye - The NSE Pharma index falls 0.93 percent after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps.

The policy, which will curtail prices of costly brands sold by domestic and international drugmakers, was approved by the government in November. Glenmark Pharmaceuticals Ltd falls 1.68 percent, Ranbaxy Laboratories Ltd slips 1.65 percent, while Dr.Reddy's Laboratories Ltd declines 1.68 percent.

Cipla Ltd is down 0.94 percent and Lupin Ltd falls 1.04 percent. (Reporting by Himank Sharma)