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The comments came hours after Trump threatened a further escalation against Iran, warning that the US would begin blowing up Iranian bridges and power plants if Iran does not cease its attacks on international shipping.
At $250 billion above last year's allocation, the funding boost includes a 5-7% pay rise for troops.
Dr Reddy's CEO said proposed US tariffs on generic medicines will raise drug prices for American consumers, while ruling out any immediate shift in manufacturing.
The reported deal marks a significant shift in US non-proliferation policy and is expected to be sent to Congress for approval.
Republicans on Wednesday unveiled an updated version of the CLARITY Act, legislation aimed at establishing a comprehensive regulatory framework for digital assets.
Trump stated that the US will "bomb and destroy" a bridge or a power plant within or nearby Tehran, for every ship that is attacked by the latter country in the Strait of Hormuz.
The underground complex near Natanz is believed to house advanced nuclear infrastructure and is designed to withstand conventional airstrikes.
Brent crude prices surged after fresh U.S. strikes on Iran, while new tariff threats from U.S. President Donald Trump weighed on market sentiment.
While he believes the tariff announcement by US President Donald Trump remains a threat for the industry, Manchanda said it is still uncertain whether such a move will eventually be implemented.
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.
