Pharmaceutical stocks rallied back in July after news of the Covid-19 vaccine.
Bhd head of research Lim Tze Cheng said the demand for vitamins and general supplements has been strong during the movement control order (MCO), which would see pharmaceutical companies that deal more on supplements seeing stronger numbers in upcoming quarters.
Today, we are nearing the delivery date of the vaccines.
Today, the government said it plans to increase its purchase of the Covid-19 vaccine to cover the immunisation needs of about 60-70 per cent of Malaysians compared to 30 per cent currently.
The Ministry of Science, Technology and Innovation (MOSTI) has estimated that RM3 billion is needed to procure Covid-19 vaccines for Malaysians.
The direct beneficiaries would be the pharmaceutical companies.
With this news, will we witness another rally for pharmaceutical stocks?
Will history repeat itself?
Pharmaniaga hits limit up, three others see big gains to record highs on Covid-19 vaccine hope
Pharma stock play