Nifty Pharma tops 170 points; Cadila surges 7% on promising Covid-19 vaccine

Pharma stocks were in the fast lane during Friday's trading session as Cadila Healthcare drives the overall sector due to plans for Covid-19 vaccine launch soon. All stocks list on Nifty Pharma were trading in the green with Cadila being the lead performer.

At around 11.48 am, Nifty Pharma trades at 11,971.25 surging by 170 points or 1.44%. The index has gained to an intraday high of 11,974.20.

Cadila was the top performer trading at Rs452.50 per piece up 7.15% as reports said that the company is set to apply for Phase 3 clinical trials of its experimental COVID-19 vaccine next month. The company is expected to launch it by March 2021.

A 2.27% rise each was recorded in Torrent Pharma and Aurobindo Pharma. While Sun Pharma gained by nearly 2%.

Other stocks like Biocon, Divis Lab, Cipla, Alkem Lab and Lupin soars between 1-1.5%.

Meanwhile, Dr Reddy's Lab gains marginally.