Pharma stocks fall up to 4% after Trump says pharma tariffs coming very soon
Pharma stocks
fell up to 4% on Tuesday, June 17, after U.S. President Donald Trump today said that pharma tariffs are coming very soon.
Following the update,
Aurobindo Pharma
fell 4% to Rs 1,094.4, while
Lupin
, Granules, and
Natco Pharma
dropped 3–4%.
Laurus Labs
, Dr. Reddy's,
Sun Pharma
, and
Glenmark Pharma
also slipped 2–3%. Meanwhile, the
Nifty Pharma index
slipped 2.2%, with 19 out of 20 constituent stocks trading in the red.
by Taboola
by Taboola
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In April, Trump hinted at imposing 'major' tariffs on imported medicines to push drugmakers to shift manufacturing to the U.S., citing national security concerns under Section 232 powers. 'We don't make pharmaceuticals anymore… We'll be announcing pharmaceuticals at some point in the not-too-distant future,' he said earlier.
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Indian drugmakers could face impact
India, one of the largest suppliers of medicines to the U.S., could be significantly affected if Trump announces new tariffs on pharma imports. In 2024, India's pharmaceutical exports were valued at USD 12.72 billion, making it the country's largest industrial export sector.
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Indian pharmaceutical companies play a crucial role in the U.S. healthcare system. In 2022, they accounted for four out of every ten prescriptions filled in the U.S. According to reports, medicines from Indian firms saved the U.S. healthcare system USD 219 billion in 2022 alone, and USD 1.3 trillion between 2013 and 2022. Over the next five years, generics from India are projected to deliver an additional USD 1.3 trillion in savings.
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Experts have warned that imposing higher tariffs on pharmaceutical imports could severely hurt Indian drug manufacturers by raising production costs and eroding their price competitiveness compared to rivals from other countries.
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