Benchmark indices are in the red on friday with Nifty below 16,500 and Sensex down over 200 pts. At 13:01 hrs IST, the Sensex is down 288.71 points or 0.52% at 55340.78, and the Nifty down 120.50 points or 0.73% at 16448.30.
Sensex Down Over 200 Points
HUL, Asian Paints, Bajaj Finance, Nestle and HDFC are the top gainers in Sensex. Tata Steel, Dr Reddys Labs, Kotak Mahindra, Sun Pharma, Larsen are among the top losers. All sectoral indices barring BSE FMCG are in red.
Natco Pharma shares were down more than 5 percent in the afternoon trade on August 20 after a US district court ruled against the company and its partner Alvogen in patent litigation related to AbbVie’s Imbruvica.
In 2021 so far, the BSE IT index has gained about 38 percent – one the highest returns among sectoral indices. The index has outperformed Sensex, which has gained 16% YTD.
Zydus Pharmaceuticals Inc, USA, a 100 percent subsidiary of Cadila Healthcare (Zydus Cadila), has signed a license and supply agreement with CHEMI SpA of Italy, a subsidiary of Italfarmaco Group, to launch the generic equivalent of Sanofi Aventis’s branded product Lovenox® (Enoxaparin Sodium Injection). The company will launch the drug in seven dosage strengths in the United States.
“Under the agreement, CHEMI will manufacture and supply the Enoxaparin Sodium Injection which Zydus will commercialize in the US. CHEMI owns proprietary rights on a pharmaceutical product composed of Enoxaparin Sodium (Preservative Free) single-use pre-filled syringes, which is an APrated generic version of the branded product Lovenox,” said Cadila in its BSE filing.