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Tuesday, September 27, 2016

Drug makers gain on earnings optimism

Tuesday, July 17th, 2012

Reuters Market Eye – Shares in major drug makers gain on expectations for strong April-June earnings. The pharmaceuticals sector is expected to report 27 percent revenue growth in April-June, Emkay Global said in a note, when excluding sales of Ranbaxy’s generic version of cholesterol-lowering drug Lipitor and Dr Reddy’s Labs’ generic version of Geodon, which is used to treat schizophrenia. Analysts say the export-dependent sector will benefit from a weaker rupee and from exclusive rights to sell some drugs in the key United States markets. Dr Reddy’s Laboratories gains 2.3 percent. India’s …