The Nifty Pharma index slumps 1.64% to 21,617.25. The index is down 4.71% in five consecutive sessions.
Natco Pharma (down 3.42%) and Laurus Labs (down 3.32%) leading the fall, followed by Abbott India (down 2.63%), Gland Pharma (down 2.56%), Ajanta Pharma (down 2.46%) and Divi’s Laboratories (down 2.41%). Losses were also seen in Biocon (down 2.39%), Sun Pharmaceutical Industries (down 2.18%), Mankind Pharma (down 2.05%), Zydus Lifesciences (down 1.78%) and Glenmark Pharmaceuticals (down 1.6%). Meanwhile, Alkem Laboratories (down 1.52%), Lupin (down 1.12%), Aurobindo Pharma (down 1.07%) and Ipca Laboratories (down 1%) also slipped, along with Granules India (down 0.97%), JB Chemicals & Pharmaceuticals (down 0.72%), Cipla (down 0.63%) and Torrent Pharmaceuticals (down 0.18%) slumped.
While branded and patented drugs face steep levies, generic formulations have been spared. This exemption comes as a relief for Indian pharma generic majors, which rely heavily on U.S. exports of low-cost generics.
The White House framed the move as part of a broader push to onshore critical supply chains, calling it a "common sense policy." Trump has hinted that levies could rise as high as 200% if companies fail to localize manufacturing within the given timeline.