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.