Pharma stocks sink amid reports of US plans to announce tariffs on pharmaceutical imports

New Delhi: Pharma stocks ended lower on Wednesday amid reports that the US will soon announce tariffs on pharmaceutical imports.

Shares of Blue Jet Healthcare dived 9.99 per cent, Marksans Pharma tumbled 6.69 per cent, Wockhardt tanked 5.14 per cent, Glenmark Pharmaceuticals plunged 4.35 per cent, Torrent Pharmaceuticals sank 4.10 per cent, and Aurobindo Pharma slumped 3.54 per cent on the BSE.

The stock of Lupin slipped 3.09 per cent, Gland Pharma declined 2.27 per cent, Sun Pharma dipped 2.18 per cent, Zydus Lifesciences fell 1.74 per cent and Dr Reddys went lower by 1.21 per cent.

The BSE Healthcare index ended 1.20 per cent lower at 39,562.52.

"The pharma index fell after the US President Trump reiterated his plans to impose heavy tariffs on pharmaceutical imports," Siddhartha Khemka, Head, Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

In the equity market, the 30-share BSE Sensex dropped 379.93 points, or 0.51 per cent, to settle at 73,847.15. The NSE Nifty declined 136.70 points, or 0.61 per cent, to 22,399.15.

Vinod Nair, Head of Research, Geojit Investments Ltd, said, "Pharma remains cautious over potential headwinds arising from the imposition of US tariffs on the industry."