Trump's tariff policy: Abbott India, Ajanta Pharma to Alembic — pharma stocks crash up to 4%

Indian pharma stocks fell up to 4% on 24 July after US President Trump announced a phased tariff plan on imported generic medicines. Under the proposal, generic drug imports will attract zero tariffs for two years from 1 August, followed by 100% from August 2028 and 200% from August 2029, aimed at pushing manufacturers to relocate production to the US. Indian drugmakers account for nearly 47% of the US generic medicines market, making them vulnerable, though analysts note the long-term implementation remains uncertain given the transition extends beyond Trump's current term.