The imposition of a 100 per cent tariff by the US on imports of branded and patented pharmaceutical products starting October 1 may not significantly hurt Indian drug makers, with Sun Pharma being exposed to some headline risk but with limited earnings impact, according to analysts. Among Indian companies, only Sun Pharma has sizeable sales from patented drugs in the US (about 17 per cent of 2024-25 revenue), HSBC Global Investment Research said in a report.
Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
Prices for Indian consumers are expected to come down significantly from the current Rs 17,000-Rs 26,000 monthly.
A fresh US executive order (EO) which seeks to bring down prices of prescription drugs in the country by up to 90 per cent -- on par with other developed nations -- will affect innovator companies, while sparing the Indian generic drug makers in the short term. US President Donald Trump signed the EO on Monday, directing the US Trade Representative and the Secretary of Commerce to act against foreign countries that "purposefully and unfairly undercut market prices", driving price hikes in the US.
All the three companies that made their stock market debut on Wednesday delivered huge day-one gains for investors. Shares of digital payment major One Mobikwik Systems surged 90 per cent, while that of fashion retailer Vishal Mega Mart and pharma firm Sai Life Sciences gained around 40 per cent each. These stellar debuts came despite the benchmark indices logging continuous declines since their initial public offerings (IPOs) closed on Friday.
It is not just the secondary market that is witnessing a revival in fortunes. Even the initial public offering (IPO) market have roared back to life, with investors submitting bids worth over Rs 2.2 trillion on the three IPOs that wrapped up on Friday. Fashion retailer Vishal Mega Mart (VMM)'s IPO (fifth largest of the year) garnered 27.3x subscription, with bids exceeding Rs 1.6 trillion.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
Gland Pharma beat muted expectations for Q2FY25. There was increased Ebitda (Earnings before interest, taxes, depreciation and amortisation) loss at Cenexi, the CRAM subsidiary. However, overall Ebitda margin was better than expectations at 21.1 per cent. But given two years of earnings decline in FY23 and FY24, the business may have bottomed and upper-teens EPS (earnings per share) growth looks possible over next two financial years.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
'There is not any negative connotation associated with it.'
Even as the row over the power disruption at President Droupadi Murmu's programme in Odisha's Baripada continues, the chief district medical officer (CDMO) of Mayurbhanj has suspended a pharmacist for taking photos with the President's helicopter, an official said on Monday.
Global private equity investor Advent International on Monday said it is acquiring a significant stake in Suven Pharmaceuticals from its promoters, the Jasti family. The PE major said this will be followed with an open offer to acquire 26 per cent more in the listed contract development and manufacturing organisation from public shareholders, and also merge the company with investee company Cohance Lifesciences, as per an official statement. Media reports on a Monday morning pegged the acquisition at Rs 6,300 crore, and that Advent had pipped rival Blackstone for the acquisition.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
The bizarre incident came to light on Monday after bystanders took videos and uploaded those on social media.
The 37-year-old woman was taken in a police van to Anandapur sub-divisional hospital on Thursday morning where doctors refused to undertake her medical examination as the place of occurrence of the crime was under Salania Community Health Centre (CHC) area.
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A sweeper in a government-run hospital in Odisha's Jagatsinghpur district had to stitch on a woman who delivered a baby as the doctor had left the operation theatre.
At least two persons, including a woman, died during Lord Jagannath's car festival, official sources said.
These include the 25 cases which were announced till Thursday. "All the 29 persons are in physical isolation in health facilities," an official said.
With 24 children dying of a mysterious disease during last two months in Odisha's Malkangiri district, the government has launched a drive to create health awareness and conduct medical examination in the tribal-dominated district.
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