Page 2 - Pharma Stocks
Aurobindo Pharma slumps 6% amid reports of Sarath Reddy's arrest by ED
According to reports, ED has arrested Sarath Reddy, director of Aurobindo Pharma, under the money laundering act in the now scrapped Delhi Excise policy case.
 "Aurobindo Pharma slumps 6% amid reports of Sarath Reddy's arrest by ED")
HUL, GSK Asia to scrap distribution pact for OTC products by next year
In 2018, HUL had announced that GSK Consumer Healthcare will merge with HUL in an all-stock deal
 "HUL, GSK Asia to scrap distribution pact for OTC products by next year")
Brokerages downgrade Divi's Labs post Q2 letdown; stock falls 11% in 2 days
EBITDA margins declined 767 bps YoY to 33.5 per cent due to high energy and transport costs.
 "Brokerages downgrade Divi's Labs post Q2 letdown; stock falls 11% in 2 days")
Cipla Q2 PAT up 11% PAT to Rs 789 cr on strong Covid-adjusted growth rate
The company is de-risking key product Abraxane in case the Goa plant FDA issue is not cleared immediately
 "Cipla Q2 PAT up 11% PAT to Rs 789 cr on strong Covid-adjusted growth rate")
We thrive on products that have limited competition: Top Sun Pharma execs
In a Q&A, the firm's US business head and its group CFO talk about their plans to scale the specialty products business further, and dwell on the company's strategies post-pandemic
 "We thrive on products that have limited competition: Top Sun Pharma execs")
Max Healthcare rallies 5%; hits record high on healthy Q2 results
The growth in Q2FY23 revenue and operating EBITDA were driven by higher occupancies, improved payor mix, and increased ARR in OPD.
 "Max Healthcare rallies 5%; hits record high on healthy Q2 results")
Pharma shares may turnaound soon; Cipla, Sun Pharma, Granules can gain 20%
What do expect from pharma stocks over the next few weeks? Here's what technical charts suggest.
 "Pharma shares may turnaound soon; Cipla, Sun Pharma, Granules can gain 20%")
Sun Pharma gains 2%, conquers Rs 1,000-mark after gap of over 7 years
The stock traded higher for the third straight day and has gained nearly 4 per cent during the period. It quoted at its highest level since May 2015.
 "Sun Pharma gains 2%, conquers Rs 1,000-mark after gap of over 7 years")
Gland Pharma plunges 13%, hits 52-week low on disappointing Q2 results
Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin contracted 150 bps to 33 per cent from 38 per cent in a year ago quarter.
 "Gland Pharma plunges 13%, hits 52-week low on disappointing Q2 results")
Sensex snaps 7-day winning run, falls 288 pts; RIL slips 1.5%, Nestle 3%
CLOSING BELL: The top drags were Nestle, Bajaj Finserv, HUL, Kotak Bank, RIL, HDFC, Bajaj Finance, Asian Paints, and IndusInd Bank as they fell in the range of 1 per cent to 3 per cent
 "Sensex snaps 7-day winning run, falls 288 pts; RIL slips 1.5%, Nestle 3%")
Laurus Labs hits 4-month low; stock slips 14% in 3 days post mixed Q2FY23
Despite mixed Q2FY23 performance, brokerages retain their 'buy' rating on Laurus Labs with a target price in the range of Rs 610 and Rs 630 per share.
 "Laurus Labs hits 4-month low; stock slips 14% in 3 days post mixed Q2FY23")
We won't make an acquisition just because we have to: Piramal Pharma chief
In a Q&A, Nandini Piramal, chairperson of the firm, says the company currently sees great scope in expanding and organically growing the OTC business, and wants to build more consumer focused brands
 "We won't make an acquisition just because we have to: Piramal Pharma chief")
Biocon falls 12% in 5 days on one major deficiency alert for API unit
The pharma company said it will respond to the European medical regulator with appropriate corrective and preventive actions within the stipulated time.
 "Biocon falls 12% in 5 days on one major deficiency alert for API unit")
Nifty Pharma index surpasses 200-DMA; Cipla, Granules can soar up to 15%
The Pharma benchmark has outperformed the overall market in recent trading sessions; sustenance above 200-DMA is likely to trigger further gains for it
 "Nifty Pharma index surpasses 200-DMA; Cipla, Granules can soar up to 15%")
Nifty Pharma outshines benchmarks, up 2%; Cipla, Sun Pharma hit 52-wk highs
Shares of Glenmark Pharma, Granules India, Divi's Laboratories, Torrent Pharma, Lupin and Aurobindo Pharma, surged in the range of 2 per cent to 6 per cent in Monday's intra-day trade
 "Nifty Pharma outshines benchmarks, up 2%; Cipla, Sun Pharma hit 52-wk highs")
Sun Pharma extends rally, surges 7% in two days; now trades at 5-month high
Sun Pharma could see structural growth and be relatively insulated from the adverse price erosion scenario in the US, according to analysts.
Pharma supply start-up Saveo Healthcare raises $4.5mn in venture round
Company founded by 4 IIT graduates will use money to expand its presence and for improving technology
 "Pharma supply start-up Saveo Healthcare raises $4.5mn in venture round")
Aurobindo slips 6% in a week after arm receives EIR from USFDA
In the past six months, Aurobindo has underperformed the market by falling 31 per cent, as compared to a marginal 0.07 per cent decline in the S&P BSE Sensex.
 "Aurobindo slips 6% in a week after arm receives EIR from USFDA")
Prescription for recovery in FY23 for underperforming pharma sector
Easing pricing pressures, complex generics uptick in the US, steady India/emerging-market growth potential booster shots
 "Prescription for recovery in FY23 for underperforming pharma sector")
Analysts cautious on Fortis Healthcare post SC verdict; stock tanks 18%
Apart from a forensic audit in the Fortis-IHH deal, the Supreme Court on Thursday also announced a jail term of six months for Malvinder Singh and Shivinder Singh in the Daiichi-Fortis case.
 "Analysts cautious on Fortis Healthcare post SC verdict; stock tanks 18%")
