The BSE Healthcare index rose 0.54 percent in the past week while the benchmark Sensex gained 1.79 percent.
New Delhi, October 16, 2017: The past week was a mixed for pharma companies with Sun Pharma getting EIR for its Dadra plant, Lupin’s US acquisition and Biocon’s receiving CRL for its biosimilar.
The BSE Healthcare index rose 0.54 percent in the past week while the benchmark Sensex gained 1.79 percent according to moneycontrol.com.
Sun Pharma, Lupin and Cipla were the biggest gainers in large caps, gaining 1.52 percent, 1.62 percent and 1.21 percent respectively. The other stocks that rose include Divi’s Laboratories (0.93 percent) and Biocon(5.71 percent).
The stock that declined include Dr Reddy’s (-1.92 percent), Torrent Pharma (-2.11 percent), Glenmark (-1.76 percent), Aurobindo Pharma (-0.3 percent) and Cadila Healthcare (-0.52 percent).
Here’s what kept the sector buzzing:
> Sun Pharma, India’s largest drug maker announced that it received establishment inspection report (EIR) from US FDA for the company’s Dadra formulation facility.
EIR indicates closure of plant inspection by the US regulatory agency. Dadra is the company’s second largest USFDA-approved plant after Halol with several pending generic filings.
> Lupin announced aquisition of US-based Symbiomix Therapeutics for USD 150 million. The acquisition gives Lupin control over Symbiomix’s lead product — Solosec oral granules — for the treatment of bacterial vaginosis in adult women.
Lupin also said the company is readying for mega specialty drug play with USD 1 billion war chest.
> Biotechnology firm Biocon said the US health regulator has issued complete response letter (CRL) for proposed biosimilar Pegfilgrastim, indicated for use in the treatment of cancer. The company, however, said it does not expect this CRL to impact the commercial launch timing of biosimilar Pegfilgrastim in the US.
> Indian pharmaceutical market (IPM) continued to be sluggish even in September as the recovery from the supply chain disruption caused due to GST rollout in July seems to be a protracted one.
Moneycontrol.com also quoted that the industry grew at 2.8 percent in September with sales worth Rs 10,420 crore compared to 13.5 percent growth at Rs 10,136 crore during the same period last year, according to market research firm AIOCD-AWACS.
