KUALA LUMPUR (Oct 31): Pharmaniaga Bhd's share price took a nosedive in the afternoon session after the health ministry announced that the company's 10-year concession will not be renewed.

The selling on Pharmaniaga shares emerged when the news broke. The stock plunged 32 sen or 12.8% to RM2.18 — the lowest in six months since mid-April this year.