Sun Pharmaceutical Industries Ltd. declined nearly 5% on Friday as Trump announced 100% tariff on the Pharmaceutical sector unless the company has manufacturing capacity in the United States.
Other Pharmaceutical stocks seeing decline are Cipla Ltd., Dr Reddys Laboratories Ltd., Lupin Ltd. and Biocon Ltd., however the impact on these companuies is largely contained since the US tariffs mainly targe branded and patented drugs, where multinational companies like Pfizer Inc. and Novo Nordisk Inc. dominate.
It is yet unclear whether complex generics and specialty drugs from India could also face scrutiny. Sun Pharmaceutical Industries Ltd. and Biocon Ltd. are key branded players in the US.
