Mankind Pharma, Zydus Lifesciences among top losers, fall up to 2.5% after Supreme Court order on pharma gifts
Executive Brief • Key Highlights
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- ✓Shares of Mankind Pharma and Zydus Lifesciences fell up to 2.5% on Thursday after a Supreme Court order.
- ✓The court directed the Centre to form a three-member committee to examine if statutory rules are needed to stop pharma companies from giving gifts and incentives to doctors to influence their practices.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Shares of Mankind Pharma, Zydus Lifesciences, Dr. Reddy's Laboratories and other pharmaceutical companies fell in morning trade on Thursday after the Supreme Court directed the Centre to constitute a three-member committee to examine whether statutory regulation is needed to curb unethical practices by pharmaceutical companies, including offering gifts and other incentives to doctors.
Mankind Pharma was trading at Rs 2,424 on the NSE, down 3.04%, at 11:50 am. Zydus Lifesciences fell 2.49% to Rs 1,124.30, while Dr. Reddy's Laboratories declined 1.20% to Rs 1,189.40.
Cipla fell 1.77% to Rs 1,303.70, Glenmark Pharmaceuticals declined 0.82% to Rs 2,263.60 and Lupin was down 0.74% at Rs 1,998.10.
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