Fredun Pharmaceuticals gets Rs 28 crore order

Fredun

Fredun Pharmaceuticals has received orders worth Rs 28 crore from Southeast Asian (SEA) countries, the healthcare solutions company has said.

The orders not only demonstrate its growing presence in the international markets but also its potential to scale up, the company said.

The company was developing three new molecules, as part of its commitment to pioneering advancements in pet and veterinary care, the company told exchanges.

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The stock, however, was trading 2 percent down at 12.30 pm on BSE, taking cues from the markets. The Sensex and the Nifty were down over a percent. Pharma stocks were outperforming, with the Nifty healthcare index up by 0.43 percent.

The Zydus Life shares were up by 7 percent after the company announced a good set of results and a buyback of shares worth Rs 600 crore. Dr Reddy’s rose to new highs after gaining up by to 2.45 percent.

Apart from the Nifty healthcare index, the Nifty IT index was up 1.14 percent.

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