Nifty Pharma Set For Its Best Monthly Returns In Nine Years

The NSE Nifty Pharma Index is on track for its best monthly gains in nearly nine years.

The benchmark has risen nearly 13 percent so far this month—the biggest jump since September 2009. It’s also set to clock its best June in 15 years.

The gains were driven by the country’s largest drugmaker Sun Pharmaceutical Industries Ltd., followed by Dr. Reddy’s Laboratories Ltd. and Lupin Ltd.

Sun Pharma with 20 percent returns is set for highest monthly returns in nearly 15 years after the U.S. drug regulator cleared its key Halol plant. Dr. Reddy’s lab and Lupin are poised for their best June in nine years and 15 years, respectively, after announcing product launches in the U.S. for 2018-19.