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LORD JESUS CHRIST SAYS

Jesus replied: “ ‘Love the Lord your God with all your heart and with all your soul and with all your mind.’ This is the first and greatest commandment. And the second is like it: ‘Love your neighbor as yourself.’ All the Law and the Prophets hang on these two commandments.” Matthew 22:37-40

4 Feb 2016

STOCK MARKET- WHY PHARMA STOCKS ARE UNDER PRESSURE TODAY.




Top drug makers, including WockhardtLupin and Cipla, came under a sharp selloff on Thursday following a news report saying the US government has made it mandatory for active pharmaceutical ingredients (APIs) to be manufactured locally.

According to the Hindu Business Line report, "the decision has already sent Indian pharmaceutical exporters into a tizzy, as it will significantly impact Indian drug exports. Before the new norms came into effect, US-based companies were allowed to procure APIs from countries like India and China, make the fixed formulations (final product) in the US and sell the drugs to the US government".

Currently, nearly 80 per cent of drug raw material requirement is met by India or China, the report added.

The pharma sub-index of National Stock Exchange fell as much as 2.45 per cent in morning traded, and pharma shares such as Divis Lab and Glenmark Pharma fell sharply.

The pharma sub-index on NSE closed 1.13 per cent lower, underperforming the broader Sensex, which closed 0.48 per cent higher.

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