Pharmaceutical Stocks decline on Trump remarks

Stocks of pharmaceutical companies came under heavy selling pressure today following US President Donald Trump's strong remarks on high prices of medicines and new procedure for bidding on drugs indicating a difficult environment in the US, the largest market for Indian generic drug companies. Free Intraday Tips NSE CNX pharma index lost 175.80 points to close at 10,236.40 points today. Among the major losers, Cadila Healthcare lost 6.76 per cent at Rs 350.55, Glenmark by 2.55 per cent at Rs 893.85, Sun Pharma by 2.55 per cent at Rs 631.50, Aurobindo Pharma by 1.93 per cent at Rs 681 and Lupin by 1.93 per cent at Rs 1,470 on the NSE today.