5 healthcare stocks to watch out for on July 07
S&P BSE Healthcare after a mindboggling rally from 17700 in July 2020 to 27000 in September 2021, the sector has underperformed in 2022 shedding ~20% of its gains. After touching a 52-week low of 20847.55, the sector is slowly gaining some momentum. In the morning trades, BSE Healthcare is trading at 22106.07 with a gain of 0.77%.
Let us see which stocks in the healthcare sector investors should keep an eye on.
Lupin Ltd today announced that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its Somerset, NJ manufacturing facility, after the inspection of the facility in March 2022. The US FDA has determined that the inspection classification of the facility is Voluntary Action Indicated (VAI). At 11 am shares of Lupin were quoting at Rs 630.45 per share with a gain of 0.056 % over its previous close.
Piramal Enterprises Ltd has received shareholders’ approval to demerge its pharmaceuticals business and simplify the corporate structure. The company received 99% of the votes at the shareholder's meeting held on Tuesday. The demerger will divide the company into two separate entities, financial services and pharmaceuticals. At 11.10 am, the shares of Piramal Enterprises are quoting Rs 1723.20, up by 0.70% or Rs 12 per share.
Syngene International Ltd, a Biocon Group subsidiary has ended its retainer consultancy agreement with Bioinnovat Research Services, whose promoter has been implicated in the anti-graft case. Syngene has distanced itself from Bioinnovat, following the scandal surrounding Central Drugs Standards Control Organisation (CDSCO) and Biocon Biologics.
At 10.10 am, the shares of Syngene International are quoting Rs 561.80, up by 2.81 % or Rs 15.35 per share.
Aurobindo Pharma Ltd announced in a press release on July 6 that its wholly-owned subsidiary company, Eugia Pharma Specialities Limited, has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Triamcinolone Acetonide Injectable Suspension. This is the 142nd ANDA (including 8 tentative approvals received) out of Eugia Pharma Specialty Group (EPSG) facilities, manufacturing both oral and sterile specialty products. In the morning session, the shares of Aurobindo Pharma are trading at Rs 546 , a gain of 0.45 % over its previous close.
Dr Reddy’s Laboratories Ltd released its Annual Report on July 6. In a joint address to the shareholder's chairman K Satish Reddy and co-chairman, MD G V Prasad laid down the sustainability goals for the next decade by making its products accessible and affordable for patients and with 25% of new launches to be first to market by 2027. “Propelled by bold targets in affordability and innovation, we aim to triple our existing reach to touch the lives of over 1.5 billion patients by 2030,'' Reddy and Prasad wrote.
In the morning session, the shares of Dr Reddy’s Laboratories are trading flat at Rs 4394.
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