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Gland Pharma, Laurus Labs, Other Pharmaceuticals, Health Action Gathering;  here’s why

 | Local News

Gland Pharma, Laurus Labs, Other Pharmaceuticals, Health Action Gathering; here’s why

| Business News Today | Local News

Shares of pharmaceutical and healthcare companies rallied on Wednesday amid a spike in cases of the Omicron variant of COVID-19 in India and the emergence of a new ‘variant IHU’ strain in France.
Neuland Laboratories and Aster DM Healthcare were the main winners of the BSE Healthcare package, increasing over 6% to an intraday high of Rs 1,664.80 and Rs 191.45, respectively. Shares of Sastasundar Ventures rose 4.99% to Rs 508.10 and shares of Hikal Ltd rose 6.6% during the day.

The Healthcare index rose 0.77% during the day to catch up with the New Years rally after failing to score in the first two trading days of 2022.

Global brokerage Jefferies has launched a cover with a call to buy on two pharmaceutical stocks – Laurus Labs and Gland Pharma with a target price of Rs 628 for Laurus and Rs 4,566 for Gland Pharma. According to Jefferies, Gland Pharma is a dominant player in the manufacture of generic injectables, while Laurus Labs is a company with a proven track record when it comes to APIs.

Following the brokerage call, shares of Laurus Labs jumped 5% to an intraday high of Rs 544.95. As of 12:45 p.m., the shares were trading nearly 4 percent higher at Rs 539.50 on BSE.

Gland Pharma shares were up 2.7% during the day and were trading 2.6% at Rs 3,984.80 at the time of writing.

Sushant Kinra, COO, Suburban Diagnostics explained to CNBC-TV18 the current business scenario for healthcare companies. There has been a huge spike in testing over the past 4-5 days, and the positivity rate has increased as well. “The volumes, we can definitely see an increase… in that same period we have three times the volume,” he said.

However, Kinra believes that no company in the world will be able to handle such an increase in volume. “So obviously that will put pressure,” he said, adding that this wave is also expected to experience a sharp decline, similar to what has been observed in South Africa.

Ameera Shah, Promoter and MD, Metropolis Healthcare noted a 20-30% increase in volumes from what it was a month ago. “A month ago, we mostly saw it happen because of the travel. Now, I think a lot of it has to do with the infection, ”she added.

Commenting on gene sequencing, she said, private labs are not allowed to do it. However, many have applied to help do genomic testing on the big screen. According to her, the turnaround time at this point is two weeks and this is done primarily as a watchdog and not for individuals to know if it is omicron or delta.

On Tuesday, the Subject Matter Expert Committee (SEC) of the Comptroller General of Medicines of India (DCGI) granted approval in principle to Bharat Biotech to conduct a phase III superiority study and dose study of phase III booster for its intranasal COVID-19 vaccine.

Gland Pharma, Laurus Labs, Other Pharmaceuticals, Health Action Gathering; here’s why

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