The Nifty Pharma index and select shares such as Biocon, Cipla, Zydus Life and Gland Pharma were trading above the respective 200-DMAs after more than 2 months; show technical charts.
Gland Pharma shares rose after it secured United States Food and Drug Administration (USFDA) approval for its Abbreviated New Drug Application (ANDA) for Angiotensin II Acetate Injection 2.5 mg/mL.
Gland Pharma shares volatile after posting Q4 results and dividend; check more details
Gland Pharma on Wednesday said it has received approval from the US health regulator for a generic medication to treat conditions related to high pressure in the eye. The company has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Latanoprostene Bunod Ophthalmic Solution, (0.024 per cent), the drug firm said in a statement. The company's product is bioequivalent and therapeutically equivalent to Bausch and Lomb, Inc's Vyzulta ophthalmic solution, it added. The product is indicated for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension. The company is the exclusive first-to-file and is eligible for 180 days of generic drug exclusivity, Gland Pharma said. According to IQVIA, the product had sales of around USD 171 million in the US for the 12 months ending February 2025. Shares of Gland Pharma on Wednesday ended 1.04 per cent down at Rs 1,398.35 apiece on the BSE.
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.
A total of 11 pharma and healthcare-related stocks have rallied more than 20% thus far in April on hopes of a likely softer tariff-related stance by the US President Donald Trump.
Technical charts hint that pharma shares such as Cipla, Lupin, Sun Pharma, Zydus Lifesciences and Gland Pharma could slide up to 23% as Trump tariff threat on pharma import looms.
According to NSE bulk deal data, Vanguard Emerging Markets Stock Index Fund A Series of VIEIF purchased 0.83 million shares
The decline in pharma stocks followed comments from President Donald Trump, who indicated that the US may impose tariffs of around 25 per cent on pharmaceutical, automobile, and semiconductor imports
Analysts at InCred Equities said they are disappointed with the repeated delay in Cenexi's turnaround and will reassess the situation constructively once the facility is back on track
Rivals Sun Pharma and Cipla beat third-quarter profit estimates, while Dr Reddy's missed expectations. All three drugmakers saw muted growth in the North American market, including the US
The pharmaceutical company's shares were quoted at an all-time high of Rs 4,350 on August 21, 2021, while they touched their all-time low of Rs 861.50 on May 22, 2023
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Shares of Gland Pharma surged up to 4.76 per cent at Rs 1860 on the BSE in the early morning trade of Thursday
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The uptick in Gland Pharma share came after the company said that it has received approval from the United States Food and Drug Administration (US FDA) for Latanoprost Ophthalmic Solution
Individually, Cipla soared up to 3.68 per cent to hit an intraday high of Rs 1,547.70 per share, while Sun Pharma soared up to 3.30 per cent to hit an intraday high of Rs 1,791.60 per share
Analysts are downgrading optimistic EPS estimates for FY25 and FY26, due to continuing slowdown in US sales and a temporary issue at Cenexi's site in Belgium
Despite increased EBITDA loss at Cenexi, the overall consolidated EBITDA margin was better-than-expected at 21.1%, led by better segmental mix and controlled operational cost for the quarter.
The company reported consolidated net profit of Rs 164 crore ($19.5 million) for the quarter ended Sept. 30, a 15.7 per cent decrease from the year-ago period