Pharma stocks were under strong under pressure for second back to back day, weighed around a weekend request from the Government banning more than 300 medicine. The BSE Healthcare stocks was down 1.5 for every penny, adding to its 3 per cent misfortune endured on Tuesday.
The yearly effect of the ban is evaluated at around 4 per cent or about Rs. 4,000 crore of around Rs. 1 lakh crore Indian domestic pharma market.
The health ministry has banned 344 settled measurement mix drugs, including several cough syrups and anti-toxins and analgesics syntheses, saying they include "danger" to people and more secure choices were accessible.
A percentage of the drugmakers hurt by the Government turn have drawn closer court and got an interim relief. Nonetheless, conclusion keeps on being negative in pharma stocks, traders said.
Today the major losers in the pharma stocks, sun pharma and Dr.Reddy’s down nearly 2 per cent while Lupin, Glenmark were 1 per cent lower.