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Informist, Friday, May. 15, 2026

 

MUMBAI – The Nifty Pharma index is expected to continue rising, as large-cap stocks join the ongoing rally in mid-cap and small-cap pharma stocks due to a strong domestic performance. While the earnings of pharma majors have not been particularly sound across geographies, a majority of this has already been priced into current valuations, analysts said. The drag on US revenue due to the absence of high-margin drug generic Revlimid sales was already expected, but stronger than estimated India business is fuelling investor sentiment, they said.

 

"There is another reason (other than strong domestic sales) for this rally. US-facing companies have indicated that they have several new products in their pipelines, (through) which they are trying to offset the weak Lenalidomide (Revlimid) sale," an analyst at a domestic brokerage said. He said it might take a few quarters for companies to figure out which drugs and therapy segments give them an edge in the US. Until then, opportunities such as glucagon-like-peptide-1 drugs, biosimilar launches and traction in speciality medicines would likely support topline growth.

 

This week, the Nifty Pharma index rose over 2% to 24970.40 points, while the Nifty 50 declined more than 2%. Cipla, Zydus Lifesciences, Laurus Labs, and Biocon were the best performing stocks in the week, rising 6-13%. Piramal Pharma, Wockhardt, and Lupin were the worst hit, down 3-4%.

Cipla and Dr. Reddy's Laboratories released their earnings earlier this week. Cipla reported a consolidated net profit of INR 5.55 billion, down nearly 55% on year and sharply below the Street's view. The revenue of the company fell nearly 3% on year to INR 65.41 billion. The company's sales in India rose 15% on year to INR 30.07 billion, while North America sales were down 26% on year at INR 14.14 billion. Since releasing its earnings, the company's stock has risen almost 11%.

 

Dr. Reddy's generic sales in North America plummeted 51% on year to INR 17.56 billion. However, its revenue from India rose 20% on year to INR 15.66 billion. Initially, the stock was under pressure as its consolidated bottom line sank due to a one-time hit of INR 4.53 billion during the quarter for shelf stock adjustment claims arising from lower prices of Lenalidomide in the US market. Its stock has now risen over 5% since the earnings. 

 

The Nifty Pharma index is moving higher following a congestion zone breakout last week, Vipin Kumaar, assistant vice-president at Globe Capital Markets, said. "Going ahead, we reiterate our bullish view on pharma space and suggest traders maintain a buy-on-dips trading approach as long as it is trading above 23500 levels on closing basis," he said. On the higher side, the analyst expects the sectoral index to test 26000–26500 levels in the short to medium term. Immediate resistance for next week is placed around 25200-25500 and support around 24000–23700 levels, he said.

 

TOP HEADLINES

 

* Lupin launches neuro-rehabilitation center Atharv Ability in Delhi
* Sai Life Sciences Q4 consol net profit rises 18% on year, revenue up 4%
* Caplin Point arm gets US FDA approval for Foscarnet Sodium injection
* Alivus Life Sciences Jan-Mar PAT rises 14.7% YoY to INR 1.63 billion
* Eli Lilly launches Alzheimer's drug 'Lormalzi' in India
* Akums Drugs Jan-Mar PAT falls 45% on year to INR 151.97 million
* Caplin Point Jan-Mar consol PAT rises 19.3% YoY to INR 1.7 billion
* Zydus Life arm to buy Assertio Holdings for $166.4 mln in all-cash deal
* Lupin gets US FDA's approval for Fomatidine injection vials
* Analyst Concall: Cipla expects EBITDA margin for FY27 at 18.5-20%
* Cipla says raw materials supply stable so far amid W Asia war, but costs up
* Zydus Life board to consider buyback of shares on Tue
* GSK Pharma Jan-Mar net profit rises 5.7% YoY to INR 2.75 billion
* Earnings Review: Cipla Q4 PAT misses view on higher expenses, weak sales
* OneSource Specialty Pharma Q4 consol PAT falls 95.3% YoY to INR 45.97 mln
* Analyst Concall: Dr Reddy's eyes double-digit US growth in FY27
* Pfizer Jan-Mar net profit falls 39.6% YoY to INR 2 bln; revenue up over 6%
* Dr Reddy's plans to incur capex of INR 20 bln in FY27
* Earnings Review:Dr Reddy's Q4 profit tanks on weak US sales, impairment loss
* Cohance Life Jan-Mar consol PAT falls 84% on year as sales down 26.3%
* Earnings Review: Dr Reddy Q4 profit tanks on weak US sales, impairment loss
* JB Chemicals Jan-Mar PAT falls 35.6% YoY as sales down 7.2%
* Earnings Outlook: Divi's Lab Q4 PAT seen lacklustre in seasonally strong qtr
* Earnings Outlook: Dr Reddy's Jan-Mar net profit seen down on weak US sales
* Biocon arm gets Health Canada approval for micafungin for injection
* Earnings Outlook: Cipla Q4 net profit seen down nearly 41% on weak US sales
* US FDA issues 3 observations to Piramal Pharma's US facility
* Torrent Pharma board to meet May 22, mull raising funds via equity, debt
* SC to decide on 2-year limitation on TDS refunds on payment to non-residents
* Analyst Concall: Lupin's mgmt sees sales growing in high single digits FY27

 

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	27,940.00	4.60	28,443.30	27,253.30
Alkem Laboratories	5,486.00	(-)1.80	5,703.30	5,356.30
Aurobindo Pharma	1,511.80	1.70	1,539.10	1,489.70
Biocon	430.10	13.10	444.60	410.00
Cipla	1,432.10	6.30	1,453.20	1,414.60
Divi's Laboratories	6,760.50	0.80	7,056.20	6,584.20
Dr Reddy's Laboratories	1,336.70	3.30	1,369.70	1,287.10
Gland Pharma	1,868.30	(-)1.90	1,987.00	1,794.20
GlaxoSmithKline Pharmaceuticals	2,438.80	(-)1.50	2,486.10	2,383.70
Glenmark Pharmaceuticals	2,325.90	(-)1.70	2,387.80	2,286.20
Granules India	736.20	(-)2.20	756.30	721.10
Ipca Laboratories	1,605.00	3.40	1,684.70	1,544.90
Laurus Labs	1,323.60	7.80	1,338.50	1,302.50
Lupin	2,276.20	(-)4.30	2,321.30	2,231.50
Natco Pharma	1,199.10	2.10	1,241.00	1,167.20
Pfizer	4,954.70	2.80	5,256.80	4,451.00
Sanofi India	3,217.90	(-)3.40	3,311.30	3,165.30
Sun Pharmaceutical Industries	1,878.20	1.60	1,901.10	1,851.70
Torrent Pharmaceuticals	4,405.70	0.60	4,482.20	4,342.00
Zydus Lifesciences	1,011.70	7.60	1,033.60	982.00
Index	Levels
Nifty Pharma	24634.80	2.20	24970.40	24389.70
Nifty 50	23643.50	(-)2.20	23926.70	23468.70
S&P Bse Sensex	75237.99	(-)2.70	76146.90	74685.00

 

End

 

Reported by Eshitva Prakash

Edited by Avishek Dutta

 

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