Pharma stocks dive on Trump tariff; Wockhardt tumbles over 9%

New Delhi: Pharma stocks fell on Friday as investors grew concerned about US President Donald Trump's move to impose 100 per cent import tariffs on pharmaceutical drugs from October 1.

Shares of Wockhardt Ltd tumbled 9.40 per cent, Indoco Remedies edged lower by 5.35 per cent, Zydus Lifesciences tanked 4.21 per cent, Glenmark Pharma fell by 2.99 per cent, Natco Pharma declined 2.65 per cent, Sun Pharma dropped 2.55 per cent, Lupin went lower by 2.07 per cent, Dr Reddys dipped 1.73 per cent and Aurobindo Pharma (0.57 per cent) on the BSE.

The BSE healthcare index dropped 2.14 per cent to 43,046.69.

In his post on social media platform Truth Social, Trump wrote, "Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America."

The US President further clarified, "IS BUILDING" will be defined as "breaking ground" and/or "under construction".

There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started."

"Indian equities ended sharply lower on Friday in a broad-based sell-off after the US announced a steep 100% tariff on imports of branded and patented pharmaceutical products effective October 1," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.

In the equity market, the 30-share BSE Sensex tanked 733.22 points or 0.90 per cent to settle at 80,426.46. The 50-share NSE Nifty tumbled 236.15 points or 0.95 per cent to 24,654.70.

"The latest US move to slap a 100% tariff on branded and patented pharmaceuticals has shaken up the global pharma sector, especially for Indian drugmakers.

"While the announcement stirred sharp falls in pharma stocks, the actual impact for now is focused on branded, patent-protected medicines — most Indian exports are generics, which remain exempt. Still, the uncertainty around future policy shifts keeps nerves on edge," Ajit Mishra, SVP - Research at Religare Broking, said.