|Day's Range||628.25 - 652.15|
|52 Week Range||628.25 - 994.00|
|PE Ratio (TTM)||19.47|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
India's drug pricing regulator has demanded explanations from 65 domestic and global drugmakers for selling new forms of essential diabetes and antibiotic drugs without its approval. The move could bring penalties for the drugmakers, among them Abbott Laboratories, Sanofi, Novartis and Indian firms such as Sun Pharmaceutical Industries and Lupin, the National Pharmaceutical Pricing Authority (NPPA) said on its website.
Indian drugmaker Glenmark Pharmaceuticals is counting on strong growth in the United States, where it will launch a dozen new medicines, to offset weakness in emerging markets this year, its chief executive said. One of India's top 10 drugmakers by sales, Glenmark has seen its profit hit in recent quarters by currency volatility in Russia, Venezuela and other emerging markets, after a steep decline in oil prices and China's devaluation of the yuan. "Our U.S. business right now is more than compensating for the hit we are taking in emerging markets," Glenn Saldanha said on the sidelines of the company's annual general meeting in Mumbai.
Asia's tumbling stocks have triggered an exodus of funds from the region, but some investors say the sell-off has been indiscriminate and that certain stocks offer compelling buying opportunities. The downturn in equities has been exacerbated by steep falls in Asian currencies, which have taken multiple blows from a sputtering Chinese economy, the unexpected 2 percent devaluation of its yuan currency on Aug. 11, and expectations the U.S. Federal Reserve will raise rates by year-end. Fears the China growth woes could knock the global economy have spread turmoil in world financial markets, toppling the benchmark MSCI Asia Pacific ex-Japan index 16 percent this year.