Pharma Stocks Outlook
Seen in range; Jan-Mar earnings to set near-term tone
This story was originally published at 22:43 IST on 17 April 2026
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MUMBAI – Shares of pharmaceutical companies are seen moving in a range next week as investors turn their focus towards March quarter earnings of pharmaceutical companies, which are expected to be lacklustre. As the war in West Asia seems to be moving towards resolution, investors are no longer interested in purchasing defensive sectors, some analysts said. The ramp-up in generic semaglutide, with around INR 100 million sales in just ten days, is encouraging and should help drive more growth in 2026-27 (Apr-Mar), analysts from HDFC Securities said.
Oil prices plummeted after Iran said the Strait of Hormuz would be "completely open" to commercial ships for the rest of the ceasefire period between Israel and Lebanon. "The passage of all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire," Iran's Foreign Minister Abbas Araghchi said. This has lifted investor sentiment, sending US equities to record highs on expectations of reining in inflation and reducing input costs for companies.
Indian pharmaceutical market sales grew 11% on year in March, largely led by price growth and traction in chronic therapies, according to IQVIA data. For the March quarter, sales rose 12% on year and for 2025–26 (Apr-Mar), they rose 10% on year. Steady price growth led to growth recovery in FY26, according to HDFC Securities. Dr. Reddy's Laboratories, Lupin, and Sun Pharmaceutical Industries outperformed the market, while Eris Lifesciences underperformed. Alkem Labs, IPCA, Mankind Pharma, Torrent Pharma, and Zydus Lifesciences grew on a par with the market.
The Nifty Pharma index is seen extending its range-bound movement from 21100 points to 23500 points, Vipin Kumaar, technical and derivatives analyst at Globe Capital Markets, said. "An either side break from this range will set the next course of action," he added. Going ahead, the analyst suggests investors adopt a 'buy on dips' trading strategy in this space with a stock-specific approach. This week, the Nifty Pharma index ended 1.5% higher at 22497.25 points. Glenmark Pharmaceuticals, Granules India, and Laurus Labs were the top gainers for the week and rose 3-4%. Dr. Reddy's Laboratories, Abbott India, and Lupin ended almost flat week-on-week.
TOP HEADLINES
* Aurobindo Pharma gets US FDA's OK for oral drug to treat urea cycle disorder
* Lupin's US arm to pay $30 mln to Humana Inc to settle antitrust case
* US FDA issues establishment inspection report for Zydus Life Ahmedabad unit
* Aurobindo Pharma arm to set up mammalian drug mfg unit for $150mln-$175 mln
* Mankind Pharma launched semaglutide last wk, eyes INR 30 bln in 3-5 yrs: COO
* Pharma secy tells cos to utilise INR 100 bln under Biopharma SHAKTI in 2 yrs
* US FDA gives Piramal Pharma's Lexington unit voluntary action indicated tag
* Lupin launches dapagliflozin tablets in US
* Sun Pharma says media report on $12-bln Organon buy "speculative"
Following are the resistance and support levels for key pharmaceutical stocks for next week as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-Week Change in % | Resistance | Support |
| Abbott India | 25,785.00 | - | 26,215.00 | 25,335.00 |
| Alkem Laboratories | 5,582.00 | 2.60 | 5,679.00 | 5,453.00 |
| Aurobindo Pharma | 1,386.00 | 2.70 | 1,405.00 | 1,365.80 |
| Biocon | 358.10 | 2.70 | 364.90 | 345.80 |
| Cipla | 1,240.80 | 0.90 | 1,256.70 | 1,216.50 |
| Divi's Laboratories | 6,229.00 | 1.80 | 6,368.30 | 6,142.30 |
| Dr Reddy's Laboratories | 1,235.70 | 0.30 | 1,259.60 | 1,200.40 |
| Gland Pharma | 1,797.40 | 3.20 | 1,856.70 | 1,706.30 |
| GlaxoSmithKline Pharmaceuticals | 2,453.90 | 2.50 | 2,498.50 | 2,387.70 |
| Glenmark Pharmaceuticals | 2,249.50 | 4.00 | 2,289.10 | 2,221.10 |
| Granules India | 655.70 | 3.80 | 668.00 | 640.70 |
| Ipca Laboratories | 1,468.30 | 0.80 | 1,485.30 | 1,447.70 |
| Laurus Labs | 1,135.75 | 3.40 | 1,153.40 | 1,113.80 |
| Lupin | 2,326.10 | (-)0.30 | 2,355.40 | 2,285.40 |
| Natco Pharma | 1,119.70 | 1.40 | 1,158.20 | 1,061.80 |
| Pfizer | 4,960.70 | 1.90 | 5,039.70 | 4,825.30 |
| Sanofi India | 3,559.80 | 1.90 | 3,642.60 | 3,492.60 |
| Sun Pharmaceutical Industries | 1,675.50 | 1.20 | 1,707.40 | 1,654.60 |
| Torrent Pharmaceuticals | 4,179.50 | 0.60 | 4,233.40 | 4,098.80 |
| Zydus Lifesciences | 943.95 | 3.10 | 955.30 | 929.30 |
| Index | Levels | |||
| Nifty Pharma | 22497.25 | 1.50 | 22623.80 | 22327.20 |
| Nifty 50 | 24353.55 | 1.30 | 24549.70 | 23998.00 |
| S&P Bse Sensex | 78493.54 | 1.20 | 79085.00 | 77430.50 |
End
Reported by Eshitva Prakash
Edited by Deepshikha Bhardwaj
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