Financial Daily from THE HINDU group of publications
Saturday, Nov 20, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 20, 2004 |
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Pharmaceuticals Markets - Stock Markets Pharma stocks move southward Virendra Verma
Mumbai , Nov. 19 PHARMA companies' shares were not hammered as much in India as in the European market where the shares of leading pharma companies took a knock on the news of scrutiny of five drugs. In the European market, companies such as GlaxoSmithKline and AstraZeneca fell sharply after the news of US FDA calling for a close watch of these drugs. On the Indian bourses, the BSE Healthcare Index saw a dip of 1.37 per cent compared to over one per cent fall by the BSE Sensex. Among the stocks that fell were GlaxoSmithKline Pharma (down 1.53 per cent at Rs 747.05 on the BSE), Aventis Pharma (down 3.25 per cent at Rs 1,064.35), Dr Reddy's Laboratories (1.33 per cent at Rs 789), Cipla (0.90 per cent at Rs 265.15) and IPCA Laboratories (0.89 per cent at Rs 754).
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