Analysts believe that pharma shares continue to see buying interest, given the inelastic demand for medicines; tariffs, if any could have minimal impact on the industry.
Trump tariffs: Blue Jet Healthcare, Aarti Pharmalabs, Marksans Pharma, Ipca, Wockhardt, Ami Organics, Biocon, Piramal Pharma, Lupin, Laurus Labs and Gland Pharma dropped in the range of 3% to 10%
The products will be manufactured at the Verna, Goa facility, and will be marketed & distributed in Australian markets through the Marksans Pharma's subsidiary Nova Pharmaceuticals Australasia Pty
The northward move in Marksans Pharma came after the company's wholly-owned subsidiary, Relonchem, received Marketing Authorisation for the product Baclofen 10 mg Tablets from UK MHRA
The management anticipates stronger performance in the coming quarters due to the company's upcoming new launches, the onset of the winter season and scaling up of the TEVA facility.
Marksans Pharma Ltd on Friday said it has received final approval from the US health regulator for its generic version of Loratadine tablets indicated in the treatment of allergic rhinitis. The approval by the US Food and Drug Administration (USFDA) is for the company's abbreviated new drug application (ANDA) for Loratadine tablets of strength 10 mg, Marksans Pharma said in a regulatory filing. Loratadine tablets are indicated for the treatment of allergic rhinitis caused by pollen and upper respiratory tract allergy for over-the-counter (OTC) use. This product is a generic version of Clartin tablet in the same strength as Bayer Healthcare, the company added. Loratadine is an antihistamine that treats symptoms such as itching, runny nose, watery eyes, and sneezing from "hay fever" and other allergies, it added.
Shares of Marksans Pharma gained up to 3.23 per cent at Rs 319 a piece on the BSE in Friday's intraday deals