After opening the day on a strong note, the Indian share markets have continued the momentum and are presently trading higher. Sectoral indices are trading in mixed, with stocks in the automobile sector & information technology sector leading the pack of gainers. While realty stocks and PSU stocks are trading in red.

The BSE Sensex is trading higher by 323 points (up 0.9%) while the NSE Nifty is trading higher by 83 points (up 0.8%). The BSE Mid Cap index is trading lower by 0.1% while BSE Small Cap index is trading down by 0.2%. Gold prices, per 10 grams, are trading at Rs 30,090 levels. Silver price, per kilogram, is trading at Rs 39,511 levels. Crude oil is trading at Rs 4,209 per barrel. The rupee is trading at 63.49 to the US$.

In the news from the pharma sector. As per an article in a leading financial daily, Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Tenofovir Disoproxil Fumarate Tablets, 300mg, from the United States Food and Drug Administration (USFDA).

The tablets are AB-rated generic equivalents of Gilead Sciences’ Viread Tablets, 300mg. The tablets are indicated in combination with other antiretroviral (ARV) agents for the treatment of HIV -1 infection in adults and pediatric patients 12 years of age and older.

Reportedly, Cipla is excited to add this important antiretroviral product to its growing portfolio of ARVs in the US. The product will be available for commercial shipment in the US immediately.

Further, these tablets had US sales of approximately US$725 million for the 12-month period ending November 2017.

Speaking of pharma space, the BSE healthcare index was the worst performing sector in 2017. In fact, the sector has underperformed over the past three years.

While 2018 earnings of pharma companies are expected to be better considering the low earnings base in 2017, certain challenges still remain.