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Shares of pharmaceutical stocks are seen falling marginally next week due to lack of any positive trigger, market players. With the Supreme Court deferring the new pharmaceutical pricing case hearing to Dec 12, there is no major reason, which could drive pharmaceutical stocks next week. Rather, the stocks in the pack, are seen correcting next week after gaining in the past two-three weeks.
The hearing in a case on new pharmaceutical pricing policy has been deferred to Dec 12 following the government's delay in notifying the policy. The apex court had earlier set Nov 27 as deadline for the government to take a final stand on the pricing policy, asking the ministerial panel not be change the pricing formula in a manner that prices of essential medicines increase.
The Cabinet is now reported to have cleared the new pricing policy approving the recommendations made by the ministerial panel. Trend for the stock is seen negative for next week. But, if the stock manages to move above 530 rupees, it could turn positive.
