NPPA has cut and capped prices of some major anti-diabetes and cardiovascular drugs that were not part of the 652 drugs earlier listed out by the government as essential drugs last year.
In an unprecedented move that has sent shockwaves across the pharmaceutical industry, National Pharmaceutical Pricing Authority (NPPA), the pharmaceutical pricing regulator has brought about 50 drugs under price control accounting 21 percent of diabetic drugs and 58 percent of cardio medicines.
The regulator has cut and capped prices of some major anti-diabetes and cardiovascular drugs that were not part of the 652 drugs earlier listed out by the government as essential drugs last year. The average price reduction is expected to be 12 percent, ranging between 10 to 35 percent.
CNBC-TV18's Archana Shukla and Ekta Batra report that while this is good news for consumers, pharma companies are likely to bear the brunt. Reports suggest that the move could have an impact to the tune of Rs 5,500 crore.
Within the MNC framework, analysts suggest Sanofi to be most impacted with an estimated sales loss of sales of Rs 139 crore. Other than that, Zydus , Cadila and Ranbaxy could be financially impacted by approximately Rs 40 crore.
However, most analysts opine that going forward, the financial impact will go through easily and it would just be a blip. Earnings for some time could be around a percent or maximum two percent of EBITDA impact for most of these pharmaceutical companies.
There could be even cancer drugs or oncology drugs that could come under the purview if in case para 19 is invoked on those drugs too. Hence, things would get more difficult and the arbitrary nature of regulation would then become more prominent which is what is worrying the analyst as well as the pharmaceutical community.
Zydus Wellness stock price
On July 14, 2014, Zydus Wellness closed at Rs 614.85, down Rs 36.4, or 5.59 percent. The 52-week high of the share was Rs 735.90 and the 52-week low was Rs 435.00.
The company's trailing 12-month (TTM) EPS was at Rs 24.69 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 24.9. The latest book value of the company is Rs 83.32 per share. At current value, the price-to-book value of the company is 7.38.
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