Nifty Pharma

Multinational pharmaceutical company Johnson & Johnson (J&J) has announced that it will not enforce secondary patents for its anti-TB drug Bedaquiline in low and middle income countries. This means that Indian pharmaceutical companies will be able to supply generic versions of the drug without the fear of litigation.

The Indian government has approved a Rs 6,000 crore ($812 million) investment in the pharmaceutical and medical device manufacturing sectors under the production linked incentive (PLI) scheme. The investment aims to develop a cost-effective and sustainable process for active pharmaceutical ingredients (APIs) and key starting materials (KSMs).

It is not very common to see tailwinds emerging for an industry at a time when it is ideal to own stocks from that space. But in the case of pharmaceutical companies, tailwinds have emerged at a time when valuations of the overall market are expensive and it makes sense to look at pharma stocks as they tend to act as defensive stocks in volatile times with bearish bias. However they should not be clubbed together; each company has its own operating matrix. A company which has a strong domestic brand in the generic drugs segment, will not be getting impacted by what is happening in the US pharma market or what USFDA does. But yes, if it might be impacted by what happens in China.

Private equity firm Advent International has completed its majority acquisition of Indian contract development and manufacturing organisation (CDMO) Suven Pharma. Advent acquired a 50.1% stake in Suven in December 2020 for INR 6,313 crore ($866 million) and will launch an open offer for an additional 26% of the company.

Tatva Chintan Pharma Chem Ltd. key Products/Revenue Segments include Speciality Chemicals, Scrap and Export Incentives for the year ending 31-Mar-2022.

On Wednesday, Aurobindo Pharma's wholly owned subsidiary Auro Vaccines Private Limited informed about entering into a License Agreement with Hilleman Laboratories Singapore Pte. to develop, manufacture and commercialise a pentavalent vaccine candidate used in children vaccination.

Nifty stayed in the flat zone at open and managed to move up a little before being pulled down. It closed with a net loss.

On September 28, Thursday, Trendlyne identified over 40 Nifty stocks that have recently formed the Golden Crossover pattern. ETMarkets spotlights 10 of these stocks, explaining the significance of this bullish pattern and its implications for investors.

Metropolis Health stock has corrected 19% from its 52-week high, which has turned valuations attractive. Expected improvement in profitability, company’s focus to clock mid-teen revenue growth, and stable RoCE makes the stock a good contra play for long-term investors, says Sandeep Raina of Nuvama Professional Clients Group. Fundamental Radar I Why Metropolis Health can be a good contra play in the healthcare space?

GIFT Nifty on the NSE IX traded 20 points, or 0.10 per cent, higher at 19,844.5, signaling that Dalal Street was headed for positive start on Thursday. Here's a slew of stocks that will be in focus today for various reasons.Stocks in focus: Manappuram Finance, Healthcare Global and more