The pharma index fell 3 percent on Wednesday following U.S. President Donald Trump’s proposal to increase tariffs by 25 percent or higher on pharmaceutical imports. Twelve of the 20 stocks on the index had major declines after the announcement.
Aurobindo Pharma Ltd
With a market capitalization of Rs 65,621.87 crore, Aurobindo Pharma Ltd fell nearly 10 percent in Wednesday’s trading session and made an intraday low of Rs 1,053.45 per share compared to its previous closing price of Rs 1,164.05 per share.
The shares reiterated from the day’s low and were trading at Rs 1,129.85 which is 3 percent lower than the previous closing price.
Aurobindo Pharma, one of India’s leading pharma companies is engaged in the business of manufacturing and marketing Active Pharmaceutical Ingredients (APIs), generic pharmaceuticals, branded pharmaceuticals and other related services. Along with this, the company also develops topical and transdermal products in the dermatology therapeutic segment. The company markets its products globally to over 150 countries.
Dr Reddy’s Laboratories Ltd
With a market capitalization of Rs 97,268.42 crore, Dr Reddy’s Laboratories Ltd fell nearly 6 percent in Wednesday’s trading session and made an intraday low of Rs 1,128.90 per share compared to its previous closing price of Rs 1,197.85 per share.
The shares reiterated from the day’s low and were trading at Rs 1,165.75 which is 3 percent lower than the previous closing price.
Dr. Reddy’s Laboratories Ltd, a leading Indian pharmaceutical company provides a wide range of products and services. This includes Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, and specialized formulations.
Sun Pharmaceuticals Industries Ltd
With a market capitalization of Rs 4,07,121.21 crore, Sun Pharmaceuticals Industries Ltd fell over 3 percent in Wednesday’s trading session and made an intraday low of Rs 1,647.35 per share compared to its previous closing price of Rs 1,701.55 per share.
The shares reiterated from the day’s low and were trading at Rs 1692.9 which is 0.5 percent lower than the previous closing price.
Sun Pharma, India’s largest pharmaceutical company specializes in a wide range of branded and generic formulations and Active Pharma Ingredients (APIs). Along with its subsidiaries, the company has various manufacturing facilities spread across the globe.
Cipla Limited
With a market capitalization of Rs 1,18,577.93 crore, Cipla Ltd fell over 4 percent in Wednesday’s trading session and made an intraday low of Rs 1,422.75 per share compared to its previous closing price of Rs 1,482.20 per share.
The shares reiterated from the day’s low and were trading at Rs 1,468.25 which is 1 percent lower than the previous closing price.
Cipla Limited, an Indian-based pharmaceutical company has 47 manufacturing sites and operates through two major segments. These include Pharmaceuticals and New Ventures. The Pharma segment focuses on generic or branded generic medicines and Active Pharmaceutical Ingredients (APIs). The New Ventures segment consumer healthcare, Biosimilars and specialty business.
Written by Shwetha Sairam
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