Nifty Pharma stocks were bearish during Friday’s trade.
Sun Pharma dragged the index most by shedding 2%. Divis Lab, Cipla, Lupin and DR Reddys also struggled.
At around 1.30 pm, Nifty Pharma was trading at 12,830.25
down 99.55
points or 0.77%, touching a high of 13,013.75 and low of 12,822.10 on Friday.
Sun Pharmaceutical Industries traded 2.45% lower at Rs627.90 per piece, despite settlement of case with SEBI for alleged fund diversion by paying a total amount of Rs1.55cr as charges.
Divis Lab shed 0.85% to trade at Rs3,721.85 per piece. Cipla was 0.56% down while Lupin trades 0.44% lower. DR Reddy and Auro Pharma were marginally lower.
Torrent Pharma, Cadila and
Biocon gave the sector little support with marginal gains. Biocon was 0.23% higher, Torrent Pharma gained 0.47% while Cadila was higher 0.24%.
Biocon Biologics Ltd., a subsidiary of Bengaluru-headquartered Biocon Ltd., has announced that Kixelle, a biosimilar insulin as part co-developed with NASDAQ-listed Viatris Inc., has received marketing authorisation approval from the European Commission.
Nifty Pharma had 3 advances and 7 declines on Friday.