The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
Trade generic drugs (medicines that are sold directly through distributors) are fast becoming a key segment for domestic pharma firms as volume growth slows in the overall market. Big companies like Cipla and Alkem have a significant presence in the segment but recently, players like Torrent Pharmaceuticals and Dr Reddy's Laboratories (DRL) have also entered this market. What is driving big pharma's focus on trade generics? The volume growth in the Indian Pharma Market (IPM) has come down from 5.6 per cent in FY16 to 0.1 per cent in FY23.
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
While Covishield supplies would meet the target of 500 mn doses between August and December, it looks like Covaxin would miss the target of 400 mn unless the partner sites of Bharat Biotech ramp up very rapidly, reports Sohini Das.
'There is no emergency of a third wave that we are rushing for booster doses.'
Amazon Web Services (AWS) will invest nearly $4.4 billion (Rs 36,000 crore) in India by 2030 and support more than 48,000 jobs externally through a new regional service launched on Tuesday, said the on-demand Cloud computing company. AWS Asia Pacific (Hyderabad) is the company's second infrastructure region in India, six years after it opened its first Cloud region in Mumbai in 2016. The Hyderabad region will give customers access to AWS technologies for data analytics, security, machine learning, and artificial intelligence.
Five vaccine candidates are in advanced stages of development in India, out of which four are in Phase II/III and one is in Phase-I/II trials.
Growth has been under pressure since the lockdowns related to Covid-19 started and fresh prescription generations slowed.
"Sputnik will probably offer vaccines after June 20. They will start the vaccine production from the month of August. They are importing the vaccines right now, and they will allot a section of their imported vaccines to the Delhi government," he said.
'No approval was given to Sputnik V on Thursday. Some queries have been asked on safety, efficacy, and logistics, which the firm will have answers to at the next meeting'
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
Indian auto and pharma industries import several critical components and raw materials from China.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
Indian Council of Medical Research Director General Balram Bhargava said the purpose of the COVID vaccine drive would be to break the chain of viral transmission.
Participants will watch out for the Brexit poll outcome in the late morning trades tomorrow.
'People who were vaccinated early on, for example, from January to April this year, namely health workers, the elderly, and the immunocompromised, should be identified for a booster dose.' 'We should start getting ready for administering booster doses to them on priority.'
At 8 million a month, times two doses, it will take us 17 years to administer the vaccine to our 800 million adults. The rollout must speed up twenty times, asserts Naushad Forbes.
Over the past week, the Sensex and the Nifty continued the bull-run
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
The Sensex ended below 28,000 for the second straight day at 27,869.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The latest price revision includes mostly cardiovascular drugs, anti-bacterials, anti-herpes, contraceptives and gastrointestinal medicines
Top officers across various ministries participate in the meeting that started at 8 pm on Saturday. The meeting is currently underway. The country is currently witnessing a second and more severe wave of the pandemic.
Indian loses chance to be research hub as domestic drug companies move R&D overseas.
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
Once a difficult market to crack, in recent years, China has relatively opened up its drug market, enacting reforms and speeding up approval time.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
Describing the mission as a "major milestone" in the development of BrahMos, the sources said that the air version of the missile was test-fired from supersonic fighter aircraft Sukhoi 30 MK-I at 10.30 am.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
Most Asian markets ended with gains.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
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