Share markets in India continued their upward climb in afternoon trade. At the closing bell, the BSE Sensex closed higher by 244 points. While, the NSE Nifty finished higher by 72 points. Meanwhile, the S&P BSE Midcap Index and the S&P BSE Small Cap Index both ended up by 1%.
All sectoral indices finished the day in green with metal sector and healthcare sector witnessing maximum buying interest.
Asian equity markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.36% while Hong Kong’s Hang Seng is up 0.56% and Japan’s Nikkei 225 is up 0.10%. European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.11% while France’s CAC 40 is up 0.09% and Germany’s DAX is up 0.04%.
The rupee was trading at Rs 64.32 against the US$ in the afternoon session. Oil prices were trading at US$ 46.71 at the time of writing.
Pharma stocks closed the day on a positive note with Aurobindo Pharma and Wockhardt leading the gains. Aurobindo Pharma share price soared over 4.5% after the company received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800mg.
Sevelamer Carbonate tablets are a therapeutic equivalent generic version of Genzyme’s Renvela tablets and is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis.
The approved product has an estimated market size of US$1.9 billion for the twelve months ending May 2017, according to IMS.
In another development, Zydus Cadila has commercially launched its Mesalamine Delayed Release Tablets USP, 1.2g in the US market. Zydus was the first to file an Abbreviated New Drug Application (ANDA) for a generic version of Lialda.
Reportedly, this is currently the only generic available to patients in the US.
