Open AccessA COMPARATIVE STUDY: IMPACT OF PANDEMIC ON PHARMACEUTICAL SECTORS ACROSS THE GLOBE
Author(s) -
Tanaz Bilimoria,
Tanaz Bilimoria,
Tanaz Bilimoria,
Tanaz Bilimoria
Publication year - 2020
Publication title -
international journal of engineering applied science and technology
Language(s) - English
Resource type - Journals
ISSN - 2455-2143
DOI - 10.33564/ijeast.2020.v05i08.019
Subject(s) - globe , pandemic , covid-19 , variance (accounting) , index (typography) , business , economics , accounting , medicine , computer science , disease , pathology , world wide web , infectious disease (medical specialty) , ophthalmology
The following paper analyses thecomprehensive impact of COVID-19 as a pandemic on thepharmaceutical sector, by analyzing the effect on indices of3 countries that were similarly hit. The various indicesselected move based on the underlying stocks giving acomprehensive view on the pharma sectors of India, U.S.and U.K. The general assumption would be that thepharmaceutical sector would react to favourable news.However, this is not what we inferred for the countries weresearched on for each announcement. The news eventstaken into consideration include WHO announcingCOVID-19 as a pandemic, Oxford University announcingthe resuming of trials and the last is the comprehensiveeffect of the two aforementioned news announcements.The data collected is based on 30 market days before andafter the news announcements ranging from 28th January2020 to 26th October 2020 for the 3 pharma indicesrespectively. Paired t-test and ANOVA are used to analyzethe impact of announcement and degree of variancebetween the countries for each announcement considered.The various indices of impacted countries showed differentreactions to the announcements. None of the countriesshowed any significant similarity among themselves withrespect to the indices.