Pharma faces USFDA heat, stocks down

The stocks of several pharma companies, including Dr Reddy's, Aurobindo Pharma, Cipla, Lupin, Sun Pharma, and Divi's Labs, have been lagging behind as the sensex and Nifty reach new highs. Dr Reddy's saw a significant decline after concerns were raised about USFDA's observations on its formulations facility FTO-3 in Hyderabad. Other pharma companies are also facing regulatory challenges from USFDA. The sectoral downtrend is attributed to increased inspections of manufacturing facilities post Covid-19.

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