Pharma Stocks Trade Bearish, Aurobindo Pharma, GSK Major Losers

Stocks of Aurobindo Pharma, GlaxoSmithKline Pharmaceuticals were among the top losers on the Nifty Pharma index during Wednesday’s trade.

GlaxoSmithKline Pharmaceuticals dipped by 27 points or 1.11% at Rs 2,447.90 per share. Aurobindo Pharma slipped by over 6 points or 0.90% at Rs 663.90 per share on NSE.  While Lupin traded on fresh 52-week low of Rs 1,047.60 per share on NSE. The stock attracted a traded volume of 3,89,778 shares and a traded value of Rs 4,134.18 lakh on NSE.

Meanwhile, BSE Healthcare index is trading bearish by dipping over 18 points or 0.13% at 13,961.85 level. Aurobindo Pharma is contributing majorly to BSE Healthcare index losses.

On Tuesday, National Pharmaceutical Pricing Authority (NPPA) announced provisional ceiling prices for 761 medicines, including HIV, diabetes, anti-cancer and antibiotic. Prices for a majority of the drugs are being reduced as the GST regime is nearing its implementation deadline of July 1.

According to NPPA Chairman Bhupendra Singh, the actual increase or decrease in drug prices post-GST is expected to be in the range of 2-3% depending on states.

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