Lupin, Sun Pharma to Cipla: Pharma stocks decline after Trump’s tariffs plan on generic medicines import

Indian pharma stocks declined sharply after US President Trump announced a phased tariff plan on imported generic medicines. The Nifty Pharma index fell nearly 2%, with all constituents trading in the red. Under the proposal, generic drug imports will face 0% tariff for two years from August 1, 2026, followed by a 100% tariff starting August 2028 for one year, and 200% tariff thereafter, aimed at pushing manufacturers to set up US-based production facilities.