Pharma stocks fall up to 4% in minutes as Trump imposes 100% tariffs on drug imports
The shares of pharmaceutical companies dropped as much as 4% within minutes on Friday after US President Donald Trump announced 100% tariffs on all drug imports into the US from October 1. Nifty Pharma index fell 2.7%, with Natco Pharma, Gland Pharma and Sun Pharma leading the dip. The tariffs have been imposed on branded and patent-protected medicines.