Page 7 - Pharma Stocks

Nifty Pharma index at three-year low; what's ailing pharma stocks?

Shares of pharmaceutical companies came under pressure on Tuesday with the Nifty Pharma index slipping nearly 3% to hit a 52-week low of 9,528.95 in intra-day deals, its lowest level since August 18, 2014 on the National Stock Exchange (NSE).On the Bombay Stock Exchange (BSE) the S&P BSE Healthcare index, too, dipped nearly 3% or 429 points to 14,184 levels. By comparison, the benchmark indices, Nifty50 and the S&P BSE Sensex were trading 0.5% lower, respectively.Thus far in the calendar year 2017, the Nifty Pharma index has underperformed with a fall of nearly 6%, as compared to a rally of around 15% in the Nifty50 and the S&P BSE Sensex.Among individual stocks, Lupin, Aurobindo Pharma, Divi's Laboratories, Glenmark Pharmaceuticals, Indoco Remedies, Strides Shasun and Wockhardt hit their respective 52-week low on the BSE in intra-day trade on Tuesday.So what's ailing pharma stocks?Indian pharma stocks have de-rated by 10% over the last one year, but with product price ...