www.rupeedesk.in
Stocks of major pharmaceutical companies are seen in a range next week ahead of Oct-Dec earnings. Dr Reddy's Laboratories, Glenmark Pharmaceuticals, Lupin Ltd, and Sun Pharmaceuticals are likely to post better-than-expected earnings for quarter ended Dec 31. However, expects Ipca Laboratories, Ranbaxy, and Pfizer Ltd's earnings to be below market estimates. The Supreme Court's verdict on the National Pharmaceuticals Pricing Policy is expected on Jan 14,
In case the apex court clears the government's new drug pricing policy, stocks of drug makers are unlikely to see much movement, as the possible impact on their bottomline has already been factored in. However, if the verdict is not on anticipated lines, there could be movement in some stocks. Under the new drug pricing policy, laid in Parliament on Dec 7, the ceiling of prices of essential drug formulations would be based on the simple average price of brands with over 1% market share.
