Shares of Mankind Pharma, Zydus Lifesciences, Dr Reddy's Laboratories and other pharmaceutical companies fell in morning trade on Thursday after the Supreme Court directed the Centre to constitute a committee to examine measures to prevent pharma companies from offering expensive gifts and other incentives to doctors to promote drug sales.
Mankind Pharma was trading at Rs 2,449 on the NSE, down 2.04%, at 11:15 am. Zydus Lifesciences fell 2.49% to Rs 1,124.30, while Dr. Reddy's Laboratories declined 1.20% to Rs 1,189.40.
Cipla fell 0.96% to Rs 1,314.50, Glenmark Pharmaceuticals declined 0.82% to Rs 2,263.60 and Lupin was down 0.74% at Rs 1,998.10.
Torrent Pharmaceuticals fell 0.63% to Rs 4,686.60, while Alkem Laboratories declined 0.28% to Rs 5,335.50. Sun Pharmaceutical Industries was down 0.26% at Rs 1,776.30.
The Supreme Court also directed that the committee's report be placed before it. The petition was filed in 2021 by the Federation of Medical and Sales Representatives Association, seeking accountability of pharmaceutical companies for such practices.