10/9/2024, 11:28:02 am

Astrazeneca, Natco Pharma shares rally 4% after GST cut on cancer drugs

Shares of Pharma companies manufacturing anti-cancer drugs rallied up to 4.4% as the Finance Minister Nirmala Sitharaman in the 54th GST council meeting announced that the Goods and Services Tax (GST) on cancer drugs will be reduced to 5% from an earlier 12%. In reaction to the update, pharma stocks like Astrazeneca Pharma surged 4.4%, Fortis Healthcare was up 3%, and Natco Pharma rose 2.5%.