MARKET EYE-Pharma stocks fall on speculation over pricing policy

Thu Nov 22, 2012 2:47pm IST

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* Shares in Indian drugmakers fall on speculation the
government's final decision on the pricing policy for the sector
might be more disruptive than expected.
* Local media reports suggest a panel of ministers has agreed to
settle on a market-based pricing mechanism, as expected, but
capping drug prices at a simple average price of brands as
opposed to the initial proposal of using a weighted average. link.reuters.com/jur24t
* The proposal, if finalised, would be "incrementally negative"
for the sector, but the impact would vary from company to
company, Nomura says in a note on Thursday.
* The new proposal is likely to be more negative for Dr Reddy's
, Glenmark and Cadila Healthcare,
Nomura says. 
* Cipla falls 0.1 percent, while Ranbaxy Laboratories
 is down 0.9 percent. 
* Dr Reddy's Laboratories is flat, Glenmark Pharmaceuticals is
up 3.9 percent and Cadila gains 2.2 percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net/kaustubh.kulkarni@thoms
onreuters.com /; kaustubh.kulkarni.reuters.com@reuters.net)
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