Ten companies, including Divi's Labs, Cipla, Glenmark Pharma, and Lupine, achieve a one-year high as Nifty Pharma reaches an all-time high

 Ten companies, including Divi's Labs, Cipla, Glenmark Pharma, and Lupine, achieve a one-year high as Nifty Pharma reaches an all-time high

Ten companies, including Divi's Labs, Cipla, Glenmark Pharma, and Lupine, achieve a one-year high as Nifty Pharma reaches an all-time high

As a result of Japanese brokerage company Nomura raising its target price on the stock to ₹1,593 from the previous ₹1,290 and extending its "Maintained 'Buy' rating, Lupine shares surged about 7% in today's trading to reach a new all-time high of ₹1,404.

Pharmaceutical stocks continued to shine in today's trading session, with the Nifty Pharma index climbing 3% to reach a new all-time high of 17,251 points amid a sea of red in the overall market.

Ten of the index's twenty components made new 52-week highs, while 19 of the stocks finished trading higher. The US generic market is doing better than ever, branded markets are doing well, raw material prices are coming down, and newly introduced medications are gaining market share. These are just a few of the reasons for the remarkable success of the pharmaceutical industry in recent quarters. has grown as a result of.

As a result of Japanese brokerage company Nomura raising its target price on the stock to ₹1,593 from the previous ₹1,290 and extending its "Maintained 'Buy' rating, Lupine shares surged about 7% in today's trading to reach a new all-time high of ₹1,404.

The company's robust US pipeline and expanding India business are the main reasons for the brokerage's positive view on Lupine. It anticipates higher profits from product launches in the US and growth in Europe, India, and emerging markets (EM).

Cipla's stock also ended a two-day losing run and reached a fresh 52-week high of ₹1,285.

In today's trading session, many other equities, including those of Laurus Labs, Zydus Lifesciences, Divi's Laboratories, Sun Pharmaceutical Industries, Granules India, Aurobindo Pharma, Glenmark Pharmaceuticals, and GlaxoSmithKline Pharmaceuticals, reached fresh one-year highs.

However, Alembic Pharmaceuticals' shares recovered 7.4% in today's session to close off a four-day losing streak at ₹820.8 per share. This comes after the business announced that it was approved by the USFDA for eight medications in the December quarter.

"Amidst new product launches, pick-up volume growth, and an improvement in demand for both generic and branded products, many domestic-focused pharmaceutical companies are expected to generate mid-teens growth in CY24." Pharma businesses (Cipla, Torrent) Pharma, Aris Lifesciences, JB Chemicals, and others have benefited from this by stepping up their heritage presence, concentrating on the development of new products, and venturing into new therapeutic areas, according to Prathamesh Masdekar, a research analyst at Stocksbox.

"The US market is predicted to continue growing substantially due to field force growth, stabilization of base business prices, ongoing acceleration of gerevlimid, and launch of new medicines (Gspiriva, Gprezista), despite pricing problems, severe competition, and strict regulation. standards for compliance," he said.