INSUBCONTINENT EXCLUSIVE:
Mumbai: Covid-19 fears triggered a selloff in pharma stocks on Thursday, with the BSE Healthcare Index mirroring the more than 8 per cent
shares plunging almost 23 per cent, followed by Wockhardt, RPG Lifesciences and Aurobindo Pharma.
The fall came even as India Ratings said
pharmaceutical ingredients and intermediates.
Data from the All India Chemists and Druggists Association showed the domestic pharma industry
grew 12 per cent in February compared with 7 per cent in the previous month.
The healthcare index dropped 8.3 per cent, while the Sensex
retreated 8.2 per cent after India imposed curbs on international arrivals by suspending most visas until April 15
The US banned travel from mainland European countries in an attempt to halt the spread of the coronavirus.
For the pharma sector, which is
restrictions, has been an overhang
Analysts at India-Ra said if Covid-19 is not contained in the next three months, the extent of supply disruptions might be greater than in