In a market where most of the cyclical is under pressure, it makes a lot more sense to buy pharma stocks as a defensive bet. However, when it comes to pharma stocks you need to be a lot more selective because there are some FDA investigations that are still in progress in some of these pharma companies.  Here are a few takeaways in pharma.

You can look to buy market leaders like Sun Pharma and Lupin as they have corrected substantially from their previous peak prices and offer good value. Also, the worst is over for these stocks 

Focus on companies like Biocon which have a strong focus on bio-similar products and also a very strong contract research franchise in the form of Syngenta. Also, Cipla could be a good bet because it has a strong Indian franchise too.