Page 5 - Us Market
Pricing pressure the new worry for Indian pharma
The intense pricing pressure in the US market, reflected in the 26 per cent dip in net sales of Sun Pharma's US subsidiary Taro Pharma, saw India's largest pharma company lose nearly 8 per cent in intra-day trade on Tuesday. The stock closed 4.3 per cent down at Rs 612.55 at the end of days' trading. The price correction was not limited to Sun Pharma with all pharma majors either hitting their 52-week or yearly lows. The BSE Healthcare index was the biggest loser among sectoral indices shedding over 3 per cent on Tuesday. Thus far in the calendar year 2017, the Nifty Pharma index has underperformed with a fall of nearly 6%, as compared to a rally of around 14-15% in the Nifty50 and the S&P BSE Sensex.Among individual stocks, Lupin, Aurobindo Pharma, Divi's Laboratories, Glenmark Pharmaceuticals, Indoco Remedies, Strides Shasun and Wockhardt hit their respective 52-week low on the BSE in intra-day trade on Tuesday.The drop in Taro revenues came despite the 3 per cent increase in ...
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