Indian pharma stocks fall on report of Trump's new tariffs on select drugmakers

Glenmark Pharmaceuticals

02/04/2026 06:41

** Indian pharmaceutical stocks .NIPHARM fall ~3%

** The Trump administration is set to announce tariffs as soon as Thursday on drugmakers that have not struck deals guaranteeing low prices in the U.S., Bloomberg News reports

** Companies that do not have agreements and are not in negotiations with the administration will be subject to 100% tariffs, the report adds

** The U.S. is India's largest market for pharmaceutical exports, accounting for over a third of the total volume, mostly of cheaper generic drugs

** All 20 index constituents trade in the red

** Sub-index heavyweight and India's largest drugmaker by revenue Sun Pharma SUN.NS down 3.2%

** Biocon BION.NS, which makes complex biosimilars for cancer treatment and has significant U.S. exposure was the biggest loser on the index, sliding 5.6%

** Glenmark GLEN.NS and Torrent Pharma TORP.NS fall 4.8% and 4.3%, respectively

** YTD, sub index down 5.43%

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))