Pharma Sector Weekly Report – 13.11.2017 To 17.11.2017

Pharma Sector Weekly Report  – 13.11.2017 To 17.11.2017

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Pharma Sector Weekly Report  – 13.11.2017 To 17.11.2017

Stocks of pharmaceutical companies are likely to decline next week as US FDA's combined warning letter to Lupin's plants at Goa and Pithampur, Madhya Pradhesh, has made market participants nervous about the sector.

This is in stark contrast to Divi's Laboratories, which got clearance from the US FDA for its Visakhapatnam unit-II. The unit had got a warning letter in April. Markets are uncertain about the
pharmaceutical sector due to the mixed news on regulatory issues in the US. This week, Lupin's 20.5% slump led to a 6% fall in the Nifty Pharma index. Also contributing the fall in the index was the 6% decline in Aurobindo Pharma yesterday and this week, which was downgraded by some
brokerages after its Jul-Sep earnings. While the company reported better-than-expected earnings for
the September quarter.

Apart from regulatory concerns, pricing pressure in the US is another factor weighing on the
sentiment due to consolidation of distribution channels there as well as faster generic product
approvals by the US FDA. .

Source : Cogencis Information Services Ltd.
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