Pharma Stocks Continue To Fall After Tuesday's Slide

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Pharma stocks continued to fall even after witnessing a sharp slide on Tuesday. Lupin, which lost 7 per cent on Tuesday was down another half per cent. There were worries over US FDA concerns over one of the plants of the company.

 Pharma Stocks Continue To Fall After Tuesday's Slide
Glenmark, Sun Pharma, Cadilla were the other stocks that were trading lower. Most of them lost more than 1 per cent in trade.

After being a darling of investors though 2014 and 2015, pharma stocks have seen a sharp correction in the last few months. Worries over warnings to several companies from the US FDA have hit these stocks.

Dr Reddys, Lupin, Sun Pharma, Cadilla Health and a few others have all received adverse communication from the US FDA.

The US is a major market for exports for most of the Indian pharma companies and warning letters can hit exports.

The companies have to be very careful in adopting best manufacturing practices and also in maintainence of records.

Read more about: lupin, dr reddys
Story first published: Wednesday, March 16, 2016, 11:29 [IST]
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