Indian pharma stocks up on report US taps drugmakers for critical cancer drug

Cipla

Tue 06:14

** Shares of Indian pharma companies .NIPAHRM gain 1.8%
** US FDA has reached out to Indian drugmakers for a critical cancer drug ifosfamide which is in short supply due to manufacturing disruptions in US, Mint reports citing sources
** Drug regulator sends SOS to Indian Drug Manufacturers' Association to identify potential manufacturers capable of supplying ifosfamide, report adds
** All but one of 20 stocks on sub-index in green with gains led by Piramal Pharma's PIRM.NS 9.8% jump
** Cipla CIPL.NS and Alkem Laboratories ALKE.NS rise ~2% each
** US FDA and IDMA did not immediately respond to Reuters requests for comment
** YTD, pharma index up 10.8% vs Nifty 50's .NSEI 7.7% decline


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))