Pharma stocks in focus; CNX Pharma up 1.6 %
DSIJ Intelligence / 23 Nov 2016
Large cap Pharma stocks are the flavour of the day courtesy stock specific news and happenings. Pharma companies are in focus due to regulatory approvals, warnings, acquisitions and divestment.
Large cap Pharma stocks are the flavour of the day courtesy stock specific news and happenings. Pharma companies are in focus due to regulatory approvals, warnings, acquisitions and divestment.
In approvals both Aurobindo Pharma and Lupin have received tentative USFDA approvals for Lamivudine tablets which are basically used for inhibition of HIV replication. Lupin also received go ahead for Abacavir Sulfate tablets.
India’s largest drug major, Sun Pharma acquired 85.1 per cent of Russian company JSC Biosintez for USD 24 million. Company plans to complete acquisition by end of 2016. Deal would be done in cash.
Cipla EU has divested stake in Chase Pharmaceuticals to a subsidiary of Allergan Plc.
In a dampner, Wockhardt received warning letter from USFDA for one of its UK subsidiary for not complying with good manufacturing practices.
Pharma movers: -
Lupin- 4.2 %
Sun Pharma- 1.8 %
Aurobindo Pharma- 1 %
Cipla- 0.5 %
Wockhardt- (2.5 %)
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