Pharma Stocks Trade Mixed As US FDA Issue Warning On Chloroquine

Pharma shares which have been over performing for some time now amid Coronavirus crisis, on April 27 traded mixed as the US FDA issued warning on use of chloroquine outside of clinical trial.

On the development, domestic manufacturers of HCQ including Zydus Cadila, IPCA Labs, Intas Pharmaceuticals, McW Healthcare of Indore, Macleods Pharmaceuticals, Cipla and Lupin have been trading mixed.

Pharma Stocks Trade Mixed As US FDA Issue Warning On Chloroquine

Cipla is trading higher by 4% while IPCA Labs trade weak by 4.33%, meanwhile the Nifty Pharma index trades higher by 1.88%

Last Friday, the drug regulator the Food and Drug Administration (FDA) warned consumers against use of malarial drugs chloroquine and hydroxychloroquine for treating Covid 19 outside a hospital or formal clinical trial setting as poisoning and deaths were reported.

"Hydroxychloroquine and chloroquine can cause abnormal heart rhythms such as QT interval prolongation and a dangerously rapid heart rate called ventricular tachycardia," the agency wrote in the notice.

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