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Last Updated : Nov 27, 2018 03:23 PM IST | Source: Moneycontrol.com

Sun Pharma drags Nifty Pharma by 1.5%, but its 4 peers rise up to 11%

Pharma index lost the most in today's trading session as it was trading lower by 1.4 percent at 9051.20

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Todays L/H

After a strong closing on November 26, the Sensex and Nifty are trading in a range on November 27 with Nifty trading in 10,600-10,650 range,

while Sensex is hovering around 35,400.

IT, energy and banking stocks are trading higher, while major losers are pharma, metal, auto and FMCG stocks.

Pharma index lost the most in day's trading session as it was trading lower by 1.4 percent at 9051.20.



On the intraday basis, Sun Pharma shed 7 percent, while Lupin, Granules India, Unichem Laboratories and Alembic Pharmaceuticals gained 1-11 percent.

Sun Pharmaceutical Industries | Down 7 percent

Shares of Sun Pharmaceutical Industries erased initial gains, plunging about 7 percent after a settlement with certain plaintiffs in the Modafinil Antitrust Litigation matter pending in a US district court.

The company did not disclose the settlement amount.

It had gained about 1.5 percent in early trade after the acquisition of Japanese pharmaceutical company Polo Pharma for USD 1 million.

Lupin | Gains 1.4 percent

The company has received EIR (Establishment Inspection Report) on the completion of an inspection by the USFDA (United States Food & Drug Administration) at its facility in Tarapur, Maharashtra.

The inspection conducted between August 27 and August 31, 2018 concluded with one inspectional observation.

Alembic Pharmaceuticals | Up 3.4 percent

The company has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Temazepam Capsules USP 7.5mg, 15mg, 22.5mg and 40mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Restoril Capsules, 7.5mg, 15mg, 22.5mg and 40mg, of SpecGx LLC. Temazepam Capsules are indicated for short-term treatment of insomnia.

Unichem Laboratories | Rises 11 percent

Company's Mumbai office has received EIR (Establishment Inspection Report) from USFDA for the post-marketing adverse drug experience inspection conducted by the USFDA from June 25 to June 29, indicating closure of inspection.

Granules India | Gains 2.5 percent

The USFDA has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., subsidiary of Granules India Limited, through its US agent First Time US Generics LLC, for Methylphenidate Hydrochloride Extended-Release Tablets USP, 10 mg and 20 mg.

Sun Pharmaceutical Industries was quoting at Rs 487.95, down or 4.45 percent, Granules India was quoting at Rs 89.55, down 1.10 percent.

Unichem Laboratories was quoting at Rs 217, up 7.11 percent, Alembic Pharmaceuticals was quoting at Rs 565.65, up 1.09 percent and Lupinwas quoting at Rs 853.75, up Rs 1.06 percent on the BSE.
First Published on Nov 27, 2018 03:16 pm