After opening the day on a strong note, the Indian share markets have continued the momentum and are presently trading off record highs following a mega recapitalization package for banks and a Rs 7 trillion infra booster ahead of October F&O expiry.
Sectoral indices are trading mixed, with stocks in the PSU sector & banking sector leading the pack of gainers, up by 7.5% & 4.6% respectively. While consumer durables stocks & realty stocks are trading in red.
The BSE Sensex is trading higher by 440 points (up 1.4%) while the NSE Nifty is trading higher by 87 points (up 0.9%). The BSE Mid Cap index is trading flat while BSE Small Cap index is trading down by 0.2%. Gold prices, per 10 grams, are trading at Rs 29,431 levels. Silver price, per kilogram, is trading at Rs 39,575 levels. Crude oil is trading at Rs 3,421 per barrel. The rupee is trading at 64.93 to the US$.
Pharma stocks are trading on a mixed note with Orchid Pharma & Wockhardt witnessing maximum buying interest. As per an article in a leading financial daily, Lupin has received the final approval from the US health regulator for its testosterone topical solution.
The company has received approval to market the product from the United States Food and Drug Administration (USFDA). The approved product is a generic version of Eli Lilly and Company’s Axiron topical solution.
According to IMS MAT June 2017 data, testosterone topical solution had sales of US$244.2 million in the US.
The testosterone topical solution is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone.
Meanwhile, the company also received final approval for its carbidopa tablets, used for treatment of idiopathic Parkinson’s disease, from the USFDA.
Reportedly, carbidopa tablets, 25 mg had annual sales of approximately US$ 21.9 million in the US as per IMS MAT June 2017.
