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As the Sun pharma’s Halol plant got clearance from the US FDA brought the pharma stocks into lime light on Wednesday giving a big relax to the pharma stocks. The Nifty pharma indexed closed at up to 0.9 percent at 8,948.95 and is up to 13 percent from recent lows, showing the improvement of the health of the sector. Whereas the pricing pressure in US continues.
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With the clearance of the Halol plant the stocks has been refuelled in a good speed. Mr.GauravDua , the head of the research pf BNP paribasNSE- 1.48% owned-Sharekhan said that a lot of negatives are now priced in “We upgraded Sun Pharma to buy from sell after Q4 result as many negatives are priced in. There are still pricing pressures in the US but intensity of pressure is easing. It also has a strong product pipeline,” said Dua. rn.
The analyst at ICICI securities Mr. Siddhant Khandekar said “Biocon is getting approvals from the developed world and is also getting traction from EMs in biosimilars. Syngene and biologics form about 50% of the turnover for FY18 and they will be the main drivers for Biocon”
As per the observers there is still profit to be made in the stock. “It is a niche specialised API player. It had some regulatory issued which are behind us. The stock has always traded at a premium because of better than industry growth,” said Dua of Sharekhan.
