Pharma stocks soar 7% after NEML exemption

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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Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,740.00	60,895.00 59,790.00	745.00 1.24%
BRENT CRUDE	73.08	75.13 71.38	-2.18 -2.90%
RICHARDS BAY COAL MONTHLY	103.50	0.00 0.00	0.25 0.24%
ROTTERDAM COAL MONTHLY	113.35	114.25 113.00	-0.05 -0.04%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	70.24	71.86 68.56	-1.68 -2.34%
SUGAR #11 WORLD	14.55	14.68 14.02	0.45 3.19%