Mankind Pharma, Zydus Lifesciences Among Top Losers As Supreme Court Seeks Review Of Pharma Gifts To Doctors

Shares of Mankind Pharma, Zydus Lifesciences and other major pharmaceutical companies traded lower on Thursday after the Supreme Court asked the Centre to form a committee to examine the practice of pharma companies offering expensive gifts and incentives to doctors.

At 11:50 AM, Mankind Pharma shares were trading at ₹2,424 on the National Stock Exchange (NSE), down 3.04%. At the same time, Zydus Lifesciences shares were down 3.21% at ₹1,116.00, while Dr Reddy's Laboratories shares fell 1.72% to ₹1,183.10.

Among other stocks, Cipla declined 0.96% to ₹1,314.50 and Glenmark Pharmaceuticals fell 0.82% to ₹2,263.60. Lupin was down 0.74% at ₹1,998.10.

Torrent Pharmaceuticals slipped 0.63% to ₹4,686.60, while Alkem Laboratories fell 0.28% to ₹5,335.50. Sun Pharmaceutical Industries was also trading lower, down 0.26% at ₹1,776.30.

Supreme Court Orders Committee On Pharma Gifts

The Supreme Court has directed the Centre to constitute a committee to examine steps that could prevent pharmaceutical companies from giving costly gifts and other incentives to doctors to promote their medicines. The court has also directed the committee to submit its report for the court's consideration.

The case dates back to a petition filed in 2021 by the Federation of Medical and Sales Representatives Association. The petition sought accountability from pharmaceutical companies over the practice of offering gifts and incentives to doctors.

The Supreme Court's order has brought the issue back into focus, with shares of several large pharmaceutical companies coming under pressure during Thursday's trading session.

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