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19 Mar 2016

STOCK MARKET- PHARMA SHARES EXTEND FALL; LUPIN NEARS 52-WEEK LOW.



Shares of pharmaceutical companies remained under pressure in monring deals on Friday, with most of the frontline stocks trading lower by over 2% on the BSE.
Sun Pharmaceutical Industries, Lupin, Aurobindo Pharma and Natco Pharma were down more than 3% each, while Wockhardt, Glenmark Pharmaceuticals, Indoco Remedies and Ajanta Pharma down between 2%-3% on the BSE.

At 09:57 AM, the S&P BSE Healthcare index was down nearly 2% as compared to 0.24% rise in the S&P BSE Sensex.

In past four trading sessions, the pharma index underperforming the market by falling 5.7% as United States Food and Drug Administration (USFDA) observations on Lupin’s plant is overhangs for pharma companies. The benchmark index reported a marginal 0.31% decline during the same period.

Lupin has dipped nearly 5% to Rs 1,598, its lowest level since July 29, 2015 on the BSE. The stock trading at close to its 52-week low of Rs 1,589 touched on May last year during intra-day trade.

In past four trading sessions, the share of drug maker has fallen 14% from Rs 1,869 after the company on Tuesday said that the United States Food and Drug Administration (USFDA) inspected Lupin’s Goa facility last week and cited 9 observations.

The observations are on aspects such as inadequacy and adherence to standard operating procedures and we are in the midst of putting together a response to address the USFDA’s observations, Lupin said on a clarification on
In past four trading sessions, the pharma index underperforming the market by falling 5.7% as United States Food and Drug Administration (USFDA) observations on Lupin’s plant is overhangs for pharma companies. The benchmark index reported a marginal 0.31% decline during the same period.
Lupin has dipped nearly 5% to Rs 1,598, its lowest level since July 29, 2015 on the BSE. The stock trading at close to its 52-week low of Rs 1,589 touched on May last year during intra-day trade.
In past four trading sessions, the share of drug maker has fallen 14% from Rs 1,869 after the company on Tuesday said that the United States Food and Drug Administration (USFDA) inspected Lupin’s Goa facility last week and cited 9 observations.
The observations are on aspects such as inadequacy and adherence to standard operating procedures and we are in the midst of putting together a response to address the USFDA’s observations, Lupin said on a clarification on news report.


Name
14/03/2016
LTP
% chg
Lupin
1868.50
1616.00
-13.51
Natco Pharma
504.55
452.45
-10.33
Wockhardt
994.60
930.00
-6.50
Sun Pharma
864.00
809.65
-6.29
Sanofi India
4427.45
4155.00
-6.15
Pfizer
1760.80
1655.00
-6.01
Ajanta Pharma
1416.75
1333.00
-5.91
Abbott India
4866.75
4630.25
-4.86
Glenmark Pharma.
830.85
791.15
-4.78
Divi's Lab.
1011.60
970.75
-4.04
Dr Reddy's
3234.35
3117.50
-3.61
Aurobindo Pharma
735.10
709.00
-3.55
Strides Shasun
1063.85
1030.60
-3.13
Cipla
538.05
522.45
-2.90
Cadila Health.
348.55
339.00
-2.74




Sensex
24804
24803
0.0
Healthcare index
16024
15181
-5.3




LTP : Last traded price on BSE in Rs at 10:09 AM.



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