Covid 19 has brought back the spotlight on the pharma sector which was going through a lackluster performance for last few years. Pharma sector is the best performing sector at present. Year to date, the benchmark BSE Healthcare index has risen by over 40%. From the March lows, the sector index has grown by over 70%. Industry experts attribute the phenomenal growth in the pharma sector to the Covid pandemic which has given more prominence to it.
Covid19 situation has provided an opportunity to the Indian pharmaceutical industry to play an even more important role in global healthcare space and the change has been positive with in general higher procurement of medicines which is driving the performance," says Tanmaya Desai, fund manager, SBI Mutual Fund.
