Indian pharmaceutical stocks experienced a significant drop on Friday, with the Nifty Pharma Index falling 4.4%, erasing the gains from the previous day. This decline followed U.S. President Donald Trump’s warning about imposing steep tariffs on the pharmaceutical sector. Trump indicated that tariffs on pharmaceuticals could be higher than anticipated, stating, “Pharma (tariffs) is going to be starting to come in, I think, at a level that you haven’t really seen before.”
The Nifty 50 index, which tracks the broader market, was also down about 1.2% in the early trade. The pharma sector was one of the top losers in terms of percentage, with all 20 stocks in the index trading lower. Major pharmaceutical companies such as Sun Pharma, Dr. Reddy’s, and Cipla were the biggest contributors to the losses.
Lupin, Aurobindo Pharma, and Ipca Laboratories also saw significant declines, with their stocks falling approximately 6.5%, marking them as the biggest percentage losers.
