Pharma stocks soar 7% after NEML exemption

By MG News | February 20, 2024 at 11:44 AM GMT+05:00

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February 20, 2024 (MLN): The overall pharmaceutical sector surged around 7%, with all companies included in the KSE-100 index hitting their upper circuit in today's intraday session after the government relaxed drug pricing policy.

Yesterday, the government announced to allow pharmaceutical companies to sell medicines that are not included in the National List of Essential Medicines (NEML) at prices fixed by themselves.

Symbol	Last Price	Pct Change
GLAXO	84.93	7.51%
MACTER	89.23	7.51%
ABOT	445.1	7.50%
AGP	73.11	7.50%
FEROZ	239.73	7.50%
HALEON	204.25	7.50%
HINOON	505.3	7.50%
SEARL	49.62	7.50%
IBLHL	32.27	7.50%
CPHL	22.97	7.49%
OTSU	139.5	2.36%
HPL	1,320.00	0.00%

The sector has lagged behind the broader KSE-100 index, with a gain of just 20% in the past year, compared to a significant advance of 50% by the KSE-100 index.

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KSE30	40,358.80 56.86M	-0.72% -292.66
KMI30	190,727.32 67.92M	-0.71% -1356.60
KMIALLSHR	55,698.48 457.08M	-0.27% -149.22
BKTi	36,242.06 11.15M	-0.50% -180.82
OGTi	28,323.42 10.71M	-0.40% -114.19

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