India Pharma Stocks Plunge After U.S. Drug Pricing Revelations

Nov 04, 2016

Indian pharmaceutical stocks reportedly plunged because of growing concerns about pressures on drug prices there after revelations from a Justice Department probe, according to a Bloomberg article. India's pharma companies are collectively the second-biggest suppliers of generic medicines to the U.S.

Sun Pharmaceutical Industries Ltd., the only Indian firm to have disclosed receiving a subpoena from the Department of Justice, fell 5.1 percent, the story said, and Dr. Reddy’s Laboratories Ltd., India’s second largest by sales, fell 4.9 percent.

Read the Bloomberg article