Indian pharmaceutical stocks came under broad-based selling pressure on Tuesday after US President Donald Trump outlined a roadmap for tariffs on imported generic medicines, dragging every constituent of the Nifty Pharma index into negative territory.
The Nifty Pharma index was down 1.32% in early trade at 25,747.60, with all 19 constituents trading in the red as investors reassessed the potential long-term impact of higher US tariffs on Indian drug exporters.
Leading the declines was Gland Pharma, which fell 2.83% to Rs 2,412.20, followed by Aurobindo Pharma, down 2.70% at Rs 1,537.00. Ajanta Pharma declined 2.64% to Rs 3,480.90, while Lupin slipped 2.52% to Rs 2,451.50. Zydus Lifesciences lost 1.93% to trade at Rs 1,121.00.
Among other major names, Piramal Pharma fell 1.85% to Rs 181.39, Alkem Laboratories declined 1.68% to Rs 5,586.00, Glenmark Pharmaceuticals shed 1.67% to Rs 2,204.70, while Cipla was down 1.61% at Rs 1,409.50. Mankind Pharma slipped 1.47% to Rs 2,541.70, Ipca Laboratories lost 1.15% to Rs 1,778.30, Sun Pharmaceutical Industries declined 1.15% to Rs 1,939.40, and Biocon traded 1.14% lower at Rs 435.30.
The selling followed Trump's announcement that imported generic medicines would continue to face zero tariffs for the next two years, after which duties could rise to 100%, with a further increase to 200% thereafter. The proposal is aimed at encouraging pharmaceutical companies to shift manufacturing to the US by giving them a two-year window to establish local production facilities.
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