Shares of pharma companies were hit on Friday after the industry’s joy over not figuring in the U.S. reciprocal tariff list proved short-lived with President Donald Trump announcing such a levy is coming.
It will “happen in near future… under review right now,” the U.S. President told reporters aboard the Air Force One on April 3, a video of which was shared by the White House.
“Looking at pharma as a separate category and will be announcing that in not too distant future,” he said, adding the tariff will be at a level never seen before. Mr.Trump said the tariff for semiconductor chips were also to be announced soon.
Out of the 20 companies forming part of the National Stock Exchange’s NIFTY pharma index, 18 were in the red on Friday even as the sectoral index closed 4.03% lower. Barring Torrent Pharma and Mankind, shares of other pharma companies ended lower with some wiping the gains of Thursday. Dr.Reddy’s Laboratories intra-day touched 52-week low of ₹1,076.20 apiece. Shares of nine companies, including Aurobindo Pharma, Lupin, Granules Pharma, Laurus Labs and Gland Pharma ended lower by 5% and more.
Published – April 04, 2025 09:35 pm IST
