Shares of Sun Pharmaceutical Industries on Friday closed at Rs 664.20 per scrip on BSE, down 1.84 per cent from its close
The stock hit an intra-day high of Rs 670, recovering 4.7% from its early morning low of Rs 640 on the NSE.
In past three months, Sun Pharma had outperformed the market by surging 38% as compared to a 9% rise in the benchmark index till Thursday.
Granules India, Hikal, Pfizer, Lincoln Pharmaceuticals, Astrazeneca Pharma India and Aarti Drugs were up between 4% and 7%.
The key near-term trigger is the company's specialty pipeline
In past 14 trading days, Nifty Pharma index outperformed the market by surging 15% as compared to 2.3% rise in Nifty 50 index.
Nifty Pharma index hit a fresh 52-week high of 10,390 in intra-day on Friday, rallying 13% thus far in the month of August, its sharpest monthly gain since September 2009.
Sun Pharma had recalled around 5,000 units of 10 ml vials of testosterone cypionate injections from the US
Thus far in current week, the Nifty Pharma index outperformed the market by surging 7% against a marginal 0.31% rise in the Nifty 50 index.
Sun Pharm hit a 52-week high of Rs 618, up 3%, extending its Tuesday's 7% rally on the BSE.
US growth at 8%, despite declining Taro sales, giving confidence that the firm is on a recovery path in America
Sales from its US formulations business, which constitutes over a third of total sales, grew 8 per cent from the previous corresponding quarter
The stock rallied 7% to Rs 600 on the BSE after the company reported a better-than-expected consolidated net profit at Rs 9.83 billion in June quarter.
Divi's Lab, Aurobindo Pharma, Lupin, Dr Reddy's Lab, Sun Pharma, Glenmark Pharma and Cipla from the Nifty pharma index were up in the range of 1% to 3% on the NSE.
Halol's non-compliance has held up fresh product approvals from the site for nearly four years, and is partly responsible for the muted growth in the US for Sun.
Markets trade flat, Sun Pharma advances
The stock was trading 2% higher at Rs 587 on the BSE in otherwise subdued market, trading nears to 52-week high of Rs 609 touched on February 12, 2018.
The drug maker has guided for an increase in R&D expenses in FY 19 as it builds a pipeline of specialty products
At 03:16 pm; the Nifty Pharma index, the sole gainer among sectoral indices, was up 2%, as compared to 0.49% decline in Nifty 50 index.
The stock was up 4% to Rs 561 on BSE in early morning trade, extending its past five days 14% rally, after the company announced the resolution of regulatory compliance issues at Halol plant.