Pharma Shares Gain On Higher Demand For Medicines As Covid-19 Cases Rise

Rising Covid-19 cases in the country is leading to higher demand for medicines which is driving up the share prices of drugmakers, analysts said.

Shares of pharma companies were outperforming in an otherwise weak market session as rising demand for medicines amid rising Coronavirus infections in country led to investors buying shares of pharma companies. The gauge of pharma shares on the National Stock Exchange rose 1.4 per cent massively outperforming the Nifty 50 index which was down 3.58 per cent. Rising Covid-19 cases in the country is leading to higher demand for medicines which is driving up the share prices of drugmakers, analysts said. Reports of the government imposing ban on export of anti-viral drug Remdesivir owing to shortage also led to buying interest in pharma shares.