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Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall to around 17% YoY in April

Pharma stocks soar 7% after NEML exemption

Record decline in API prices signals relief for pharma sector
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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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Posted on: 2024-02-20T11:44:35+05:00