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      Pharma Sector: "Once bitten..."


      Ranbaxy results, which were much below the market expectations, have impacted stocks from the pharma sector. This is seen from the fall in BSE Healthcare index, which includes pharma companies, by 3.27 per cent on Monday, the highest fall among all the sectoral indices. In the last one week, this index is down 8.51 per cent.Dealers said the results from Ranbaxy have turned traders cautious as they feel that other pharma companies' performance may also not be very good.The talk is that several companies, which are exporters of drugs, could be the worst affected as prices of several of the drugs in the international market have fallen sharply in the last few quarters. Among the stocks to fall on Monday include Ranbaxy, Biocon, Dr Reddy's Laboratories, Lupin, Aurbindo Pharma, Sun Pharma and Divi's Laboratories.

      October 25, 2005


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