Latest news with #Pharma
Reuters
2 days ago
- Business
- Reuters
Indivior to delist from London Stock Exchange, maintain Nasdaq listing
June 2 (Reuters) - Pharma firm Indivior (INDV.L), opens new tab said on Monday it will cancel its secondary listing on the London Stock Exchange, effective July 25, maintaining its primary listing on the Nasdaq to reduce costs and better align with its U.S.-centric business. The company, known for its opioid addiction treatment, joins a growing number of companies delisting from London, as lower valuations and weak investor appetite continue to drive firms toward U.S. markets. Shares of Indivior, which floated in London in late 2014, have dropped more than 60% from record highs hit in June 2018. The company said over 80% of its revenue now comes from the U.S., with the Nasdaq (NDAQ.O), opens new tab accounting for about 75% of recent trading volumes. The delisting aims to streamline operations and reflect the company's strategic focus on the U.S. market, it said. Indivior moved its primary listing to the United States last year. The decision to delist from London comes just months after Indivior overhauled its management. Earlier this year, it appointed David Wheadon as chair and Joe Ciaffoni as CEO.
Business Standard
7 days ago
- Business
- Business Standard
Benchmarks trade with minor losses; pharma shares decline
The domestic equity benchmarks traded with limited losses in the mid- afternoon trade, despite positive global cues, as fund outflows triggered by large block deals and heightened primary market activity weighed on investor sentiment. The Nifty traded below the 24,800 level. Pharma shares slipped after advancing for the past two consecutive trading sessions. At 14:29 IST, the barometer index, the S&P BSE Sensex, slipped 150.18 points or 0.18% to 81,398.36. The Nifty 50 index shed 52.85 points or 0.21% to 24,776.35. In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index added 0.54%. The market breadth was positive. On the BSE, 1,993 shares rose and 1,897 shares fell. A total of 164 shares were unchanged. Economy: Foreign direct investment in India fell 24.5% year-on-year to $9.34 billion in the January-March quarter of 2024-25 but grew 13% at $50 billion during the entire previous financial year, according to the government data released on Tuesday. FDI inflows during January-March 2023-24 stood at $12.38 billion. These were $44.42 billion in the full 2023-24 fiscal. During the October-December quarter of 2024-25 also, the inflows were contracted by 5.6% year-on-year to $10.9 billion due to global economic uncertainties. IMD Forecasts: The India Meteorological Department (IMD), under the Ministry of Earth Sciences, has issued its updated Long-Range Forecast for the 2025 Southwest Monsoon season (JuneSeptember) along with the Monthly Rainfall and Temperature Outlook for June 2025. According to the forecast, the seasonal rainfall across the country as a whole is likely to be 106% of the Long Period Average (LPA), with a model error of 4%, indicating a high probability of above-normal rainfall during the monsoon season. Regionally, the rainfall is most likely to be above normal over Central India and the South Peninsular region, while Northwest India is expected to experience normal rainfall levels (ranging between 92-108% of LPA). In contrast, Northeast India is likely to receive below-normal rainfall (<94% of LPA). Buzzing Index: The Nifty Pharma index shed 0.50% to 21,418. The index rose 0.07% in the previous trading session. Aurobindo Pharma (down 3.07%), Natco Pharma (down 1.71%), J B Chemicals & Pharmaceuticals (down 1.28%), Lupin (down 1.12%), Alkem Laboratories (down 0.88%), Divis Laboratories (down 0.87%), Granules India (down 0.85%), Sun Pharmaceutical Industries (down 0.83%), Cipla (down 0.71%) and Abbott India (down 0.33%). On the other hand, Ipca Laboratories (up 1.74%), Laurus Labs (up 1.63%) and Mankind Pharma (up 1.13%) turned up. Numbers to Track: In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.3650, compared with its close of 85.4025 during the previous trading session. MCX Gold futures for 5 June 2025 settlement rose 0.53% to Rs 95,640. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 99.59. The United States 10-year bond yield added 0.88% to 4.473. In the commodities market, Brent crude for July 2025 settlement rose 5 cents or 0.08% to $64.14 a barrel. Stocks in Spotlight: Zydus Lifesciences added 1.06% after the company announced that the U.S. Food and Drug Administration (USFDA) has granted Fast Track Designation to Usnoflast (ZYIL1), a novel oral NLRP3 inhibitor, for the treatment of Amyotrophic Lateral Sclerosis (ALS). Rashtriya Chemicals & Fertilizers fell 2.37% after the companys consolidated net profit slipped 23.91% to Rs 72.46 crore in Q4 FY25, compared with Rs 95.24 crore posted in same period last year. Revenue from operations declined 3.86% year on year (YoY) to Rs 3,729.67 crore during the quarter ended March 2025.
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Business Standard
27-05-2025
- Business
- Business Standard
Sensex sheds 625pts on profit-taking in blue chips; PSBs, realty buck trend
Stock market closing bell, Tuesday, May 27, 2025: Profit booking among select blue-chip stocks at higher levels dragged the benchmark equity indices lower on Tuesday. Broader markets, however, remained resilient, with mid- and small-cap indices posting marginal gains. Among the sectoral front, shares of auto, FMCG, and IT companies were under pressure, while public sector banks, pharma, and realty bucked the trend and logged gains. The BSE Sensex, though it recovered nearly 430 points from the day's low, still ended in the red at 81,551.63, down 624.82 points or 0.76 per cent from its previous close. The NSE Nifty50 closed lower by 174.95 points, or 0.70 per cent, to settle at 24,826.20. The 50-share index traded in the range of 25,062.90 to 24,704.10 on Tuesday. UltraTech Cement, JSW Steel, ITC, Tata Motors, and Grasim were among the top laggards in the Nifty50, declining by up to 2.28 per cent. On the other hand, Jio Financial, IndusInd Bank, Trent, Adani Ports, and Sun Pharma were among the top gainers, rising by up to 3.87 per cent on Tuesday. The market breadth turned negative, with 1,462 out of 2,955 traded stocks on the NSE ending in the red, while 1,412 closed higher and 81 remained unchanged. Meanwhile, a total of 101 stocks hit their upper circuit on the NSE, while 51 touched their lower circuit limits. At the close, the market capitalisation of NSE-listed companies stood at $5.18 trillion. That apart, shares of Boran Weaves, which made their D-Street debut today, climbed 5 per cent from the listing price and 18.13 per cent from the IPO issue price to get locked on the upper circuit on the bourses. SMIDs show resilience The broader markets, however, showed resilience, with the Nifty Midcap100 and Nifty Smallcap100 indices settling higher by 0.15 per cent and 0.10 per cent, respectively. ITI (9.99 per cent), IFCI (4.82 per cent), Garden Reach Shipbuilders (3.51 per cent), Supreme Industries (3.69 per cent), and Container Corporation of India (3.11 per cent) were among the top gainers in the space. PSBs, pharma, realty buck trend Barring Nifty PSU Bank, Pharma, and Realty indices, all the other sectoral indices on the NSE ended in red. Among them, Nifty FMCG, IT, and Auto were the top laggards, ending down by 0.88 per cent, 0.75 per cent, and 0.70 per cent respectively. Meanwhile, Nifty PSU Bank, Realty, and Pharma indices managed to eke out gains of 0.26 per cent, 0.24 per cent, and 0.11 per cent respectively, on Tuesday. Profit booking pauses rally The analysts believe that the market is witnessing non-directional activity; perhaps traders are waiting for an either-side breakout. The domestic market, Vinod Nair, head of research, Geojit Investments, said, witnessed volatility and snapped a two-day rally, as investors opted for profit booking driven by valuation concerns and weakness across Asian markets. "The benchmark index once again failed to decisively breach the 25k resistance level, reflecting the absence of positive triggers. Large-cap stocks underperformed, weighed down by subdued FII participation and lacklustre earnings from blue-chip companies. Conversely, mid- and small-cap segments remained relatively resilient, supported by better than estimated Q4 earnings and moderation in premium valuation," said Nair. "We are currently witnessing a tug of war between bulls and bears amid mixed global cues," said Ajit Mishra, SVP, Research, Religare Broking. However, favorable domestic factors such as a good monsoon and strong macroeconomic data, Mishra believes, are helping maintain a positive undertone. "We continue to maintain a positive outlook on the market. However, sustained strength in the banking and financial sectors is crucial for the Nifty to overcome the 25,200 hurdle and regain upward momentum. In the meantime, traders should adopt a 'buy on dips' strategy with a strong emphasis on stock selection," said Mishra. Technical view From the technical perspective, analysts believe that 24,700 would be the key support zone for traders, while 25,000 would act as a crucial resistance zone for the bulls. 'As long as the market trades within this range, a range-bound texture is likely to persist. On the higher side, a successful breach of 25,000 could push the market up to 25,100–25,250,' said Shrikant Chouhan, Head of Equity Research, Kotak Securities. On the downside, a fall below 24,700, Chouhan believes, could retest levels of 24,500–24,450. Mandar Bhojane, equity research analyst at Choice Broking, on the other hand, believes that a sustained close above 25,200 could trigger fresh buying interest, potentially pushing the index towards 25,600 and 25,800. 'Until a decisive move occurs, range-bound action is likely to continue, and traders are advised to remain cautious and watch for a confirmed breakout,' said Bhojane.
The Irish Sun
23-05-2025
- Entertainment
- The Irish Sun
Real reason Corrie star left the soap after 11 years as actor's partner slams bosses ‘huge mistake'
CORONATION Street star Daniel Brocklebank has left the soap after making a string of online conspiracy posts. The 45-year-old actor, who has played gay vicar Bill Mayhew for 11 years, will be written out next year, ITV execs have decided. Advertisement 1 Corrie actor Daniel Brocklebank has left the show after social media posts about the government Credit: ITV future . But his partner, Jordan Coulthard, "I can't even believe we are having this conversation. No words can describe how heartbroken I am for him.' Over the past four years the actor has posted claims that the government were tampering with the voting process. Advertisement READ MORE ON CORRIE He also said planes were spraying chemical over the country while he has liked and reposted anti-vax messages. Earlier this year he wrote: 'We have been lied to so much. Governments. Pharma. Kings. Queens.' 'MSM', an abbreviation of mainstream media, were also blamed. Confirming his exit, Daniel said: 'I have been working on Corrie for a quarter of my life. Advertisement Most read in Soaps "I have adored every minute I have been in that building and have never not looked forward to going into work. "I love everyone who works on this show and, whilst I am sad to be going, I am equally excited to see what the future holds.' Coronation Street favourite facing murder charge ahead of big exit Daniel was at the centre of one of the soap's biggest recent storylines, when Bill's husband Paul, played by Peter Ash, was seen deteriorating and passing away last year from motor neurone disease. Advertisement 'We're incredibly sad to bid farewell to Dan, who has been fantastic.'
Yahoo
23-05-2025
- Politics
- Yahoo
Republicans are forcing Trump to touch the third rail
Considering that the country is in political crisis unseen in any of our lifetimes, it seems a little strange that the top issue being discussed among many in the media is a rehash of the story that people around former President Biden allegedly covered up that he aged demonstrably in office since we all saw that with our own eyes. Seeing as this issue will almost certainly never happen again and has no relevance for the future, it is odd that we are spending so much bandwidth discussing what feels like ancient history amid an overwhelming tsunami of critical political news. I'm not particularly interested in the story, but for those who are, enjoy. However, I have been hearing a lot of the people who are obsessing over it repeat a devastating quote from the first debate, one which may have sealed Biden's fate. In his closing argument, Biden stumbled and inexplicably said, "We beat Medicare!" It was obviously bizarre, but in context, it was clear that he meant "we beat Pharma." I thought of that when I heard our almost 79-year-old current president say this on his recent overseas trip: Coincidentally, that weird comment actually referred to Big Pharma as well. It seems to be a common glitch among geriatric presidents. As it happens, both men were right — but in Trump's case, not in the way he thought he was. Biden was referring to the provision in the Inflation Reduction Act that allowed Medicare, for the first time, to negotiate directly with the pharmaceutical companies to lower prices for some of the most commonly prescribed medications. They succeeded in substantially lowering the price of some commonly prescribed drugs for diabetes and heart disease and were going forward with others. So far, Trump has left that in place — but he did roll back a number of other initiatives that had just started to roll out as soon as he took office. In that speech in Saudi Arabia, for example, he was boasted about his executive order directing the big international pharmaceutical companies to lower their prices to those paid by other countries or else. His order, as with everything else he's doing, will be met with a flood of litigation that could take years to work out. Who knows if anything will ever come of it. But Trump saying "we've cut our healthcare by 50-90%" may actually be true, although as usual, he fudged the numbers. If the provisions in the so-called one big beautiful bill Republicans in the House just passed actually make it to his desk, Trump will have gone a long way toward cutting the healthcare of many millions of Americans. And this is despite his specific, repeated promises that he would not do it. He even went up to Congress earlier this week as they were marking it up and said "don't f**k around with Medicaid." They did. And it's going to kick millions of people off their health insurance and potentially devastate hospitals and other health care providers. This one huge hideous bill is a monstrous attack on the poor, most of them working poor, which he plans to sell as a big gift to the Real Americans by repealing the tax on tips and offering up a $1,000 "investment account" for newborns called "Trump Accounts" (the name changed at the last minute from "MAGA Accounts" no doubt to please Dear Leader.) Meanwhile, it slashes home heating assistance that will literally leave people out in the cold, features an almost 30% cut in food assistance, reduces the subsidies for Obamacare and implements the largest cuts to Medicaid in its history. And just to really make sure people can't get ahead, they're taking away $350 billion in aid for working-class families who want to send their kids to college. And why are they doing this? Well, they say we just have to cut spending because the budget deficit is out of control. Except they are also cutting taxes and their cuts, as usual, will benefit the wealthy much more than the pittance they throw at the feet of the poor and the middle class. They are literally robbing the poor to give to the rich. Economist Steven Rattner explains how that shakes out in this appearance on MSNBC: They are also exploding the deficit beyond anything we might have imagined, adding at least $3.1 trillion. The alleged deficit hawks in the House grumbled, but they went along. After all, this is a tax cut bill and they're Republicans. They may not ever get much of anything done, but if there's one thing they always do, no matter the circumstances, it is cut taxes for their rich benefactors. It's as predictable as Donald Trump winning the championship at his golf course every year. And, as former Vice President Dick Cheney famously said, "Reagan proved deficits don't matter." It's always been just a talking point. They usually talk big about cuts like this and then come back to Earth when they realize that many of their constituents and donors will be hit. But this time, they apparently are either resigned to losing their majority next year and want to pass as much of their sadistic policy wish list as possible before they are in the wilderness or they believe that Donald Trump really is so all-powerful that he will sweep in and save them. Or maybe they just figure they'll be able to get rich[er] and retire from all their insider trading on the financial market gyrations caused by Trump's erratic tariff policies. But their determination to turn America so toxic that the bond market is becoming very shaky and investors are starting to pull out could have some very serious unintended consequences. All that new debt they're creating is going to get mighty expensive. Trump, for his part, has obviously given in on the Medicaid cuts. It's not like he ever really cared about any of his "populist" promises not to touch the "entitlements." They were just campaign slogans to appeal to the rubes. But it turns out that he might just be touching the real third rail. The Republicans are raising the deficit so high that it may trigger sequestration under the PAYGO act, which would require mandatory cuts to Medicare in the vicinity of half a trillion dollars. It's possible that they'll finesse their way out of it somehow. They're just tossing aside norms and changing the rules willy nilly now whenever they need to. But if the Democrats are smart, they will make sure that the public is aware that this is now an issue because Republicans made it one with their over-the-top, budget-busting "Big Butt-Ugly Bill." We are constantly hearing from Democrats that you have to talk about "kitchen table issues" in order to appeal to the voters. Well, the Republicans just threw a huge pile of issues, including the kitchen sink, right in the middle of the table for them to take to the country. The midterm campaign has begun.
