Asian equity markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.04%, while the Hang Seng is down 0.29%. The Nikkei 225 is trading down by 0.11%. Overnight, the US markets closed lower, weighed down by selling in shares of technology firms.

Meanwhile, share markets in India have opened the day on a flat note with the positive bias. The BSE Sensex is trading higher by 43 points while the NSE Nifty is trading higher by 7 points. The BSE Mid Cap Index opened the day up by 0.4%, while BSE Small Cap index opened the up by 0.2%.

Barring IT stocks and FMCG stocks, all sectoral indices have opened the day in green with capital goods stocks and healthcare stocks leading the pack of gainers. The rupee is trading at 64.34 to the US$.

Pharma stocks opened the day on a mixed note with Sun Pharma and Dishman Pharma leading the gainers. Sun Pharmaceutical Industries today announced that one of its wholly owned subsidiaries has received final approval from US health regulator for its Abbreviated New Drug Application (ANDA) for the generic version of Zetia, (ezetimibe) Tablets 10mg.

Reportedly, generic ezetimibe tablets are therapeutic equivalents of Merck’s Zetia tablet used for the treatment of high cholesterol.

According to IMS Health data for the 12-month period ending October 2016, annual US sales of Zetia 10 mg were approximately US$2.3 billion.

Speaking of pharma sector, once considered a safe haven for investors has been on a steady decline over the past two years.

‘Safe Haven’ Pharma Sector in Decline since 2 Years

The list of pharma sector woes is long. So, is there light at the end of the tunnel? Girish Shetty, our research analyst thinks there is.

As per him, it doesn’t make sense to paint all pharma stocks with the same brush. The leaders of the industry will certainly survive this phase. And just like IT, there are interesting, niche pharma stocks that are worth your attention.

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