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Why India Pharma Failed To Impress In 2020-22 Bull Run

 
• By Anju Ghangurde

Most Indian pharma stocks, including large firms, yielded double digit negative returns over the last 12 months while the overall market (Bombay Stock Exchange Sensex) delivered positive returns, a new study by an investment banking and consulting services firm indicates. The prognosis for fiscal years 2023/24, though, is optimistic.

Indian pharma stocks underperform amid bull run • Source: Shutterstock

Indian pharma companies may have made headlines for their COVID-19 related efforts, with drugs like remdesivir and favipiravir becoming household names and delivering earnings bump ups, but the story on the stock market over the recent past is starkly different.(Also see "Favipiravir Adds Near-Equivalent Of AZ India To Glenmark's Sales" - Scrip, 27 May, 2021.)

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