Indian pharma stocks slide after Trump’s new drug tariffs
Indian pharmaceutical stocks dropped sharply on Friday after U.S. President Donald Trump announced a 100% tariff on branded and patented drugs, effective October 1.
All 20 constituents of the index were lower as of 9:30 a.m. IST. Heavyweight Sun Pharmaceutical Industries fell 3.4%, News.Az reports, citing Reuters.
The U.S. takes slightly more than a third of India’s drug exports, mostly cheaper generics, which rose 20% to about $10.5 billion in fiscal 2025.
The near term impact of the tariffs is likely to be limited, as India mainly exports generics, ICICI Securities research analyst Pankaj Pandey said in a note.
"That being said, uncertainty still remains whether complex generics and biosimilars will come under tariff embargo in the future," Pandey added.
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