Hospital Stocks Drop Up to 6% as Supreme Court Questions Drug Mark-Ups
Shares of major hospital chains including Apollo Hospitals, Fortis Healthcare, and KIMS fell up to 6% following the Supreme Court's concerns over steep mark-ups on medicines sold in corporate hospitals. Apollo Hospitals shares dropped 5.95%, Fortis 5.03%, and KIMS 5.70%. The broader healthcare sector also declined, with the Nifty Pharma index down 1.77% and BSE Healthcare index down 2.19%. The court highlighted a cancer drug priced at Rs 27,000 with a procurement cost of Rs 2,700, questioning the 10x mark-up.
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