Shares of fourteen drug makers rose by 0.99% to 6.16% on reports global pharma firms are scouting for acquiring Indian drug makers, as generic penetration in the developed market is expected to increase in the coming years.  

The BSE Healthcare index had outperformed the market over the past one month till 25 September 2009, rising 11.49% as compared to the Sensex 6.40% rise. It outperformed the market in past one quarter, gaining 16.71% as against 16.36% rise in the Sensex. Ipca Laboratories (up 6.16%), Sun Pharmaceuticals Industries (up 5.80%), Dishman Pharmaceuticals (up 4.90%), Lupin (up 3.96%), Glenmark Pharmaceuticals (up 3.10%), Dr Reddy’s Laboratories (up 2.75%), Pfizer (up 2.39%), Wockhardt (up 2.29%), Piramal Healthcare (up 2.01%), Cadila Healthcare (up 1.93%), Cipla (up 1.42%), Orchid Chemicals & Pharmaceuticals (up 1.35%), Ranbaxy Laboratories (up 1%), and GlaxoSmithKline Pharmaceuticals (up 0.99%), edged higher. As per estimates, blockbuster drugs to the tune of US$114 billion will go off patent over the next three years. Last week, shares of Piramal Healthcare and Dr Reddy’s Laboratories were in demand after reports suggested UK-based GlaxoSmithKline Plc is looking for potential acquisitions in the Indian market and has shortlisted Piramal Healthcare and Dr Reddy’s Lab for the proposed acquisition. India’s Rs 35,000 crore drug market, which is expanding by 14-15% a year, is another reason for multinationals to look seriously at the country.

Like

Dislike

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.