Pharma stocks slide up to 7% as Trump hints at unprecedented tariffs on sector
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Shares of Indian pharmaceutical companies, including Aurobindo Pharma, Laurus Labs, IPCA Laboratories, and Lupin, dropped as much as 7% on Friday after U.S. President Donald Trump signaled that tariffs on the sector were imminent. Speaking to reporters aboard Air Force One, Trump stated that his administration was evaluating potential tariffs on pharmaceuticals. “Pharma is going to start coming in at, I think, a level that you haven’t really seen before,” he said, hinting at forthcoming trade measures. He further clarified that pharmaceuticals were being considered as a separate category for tariffs, with an announcement expected soon. “We are looking at pharma as a separate category. We will be announcing that sometime in the near future—not in the distant future,” he added. The remarks come just a day after pharma stocks had rallied on expectations that the sector would be spared from trade restrictions. On Thursday, the Nifty Pharma in...