From Laurus Labs, Lupin to Biocon— Pharma stocks rise up to 3% despite Trump's 200% tariff threat
Several pharma stocks, including Laurus Labs, Lupin, Biocon, Cipla and Divi's Labs, rose up to 3 per cent in the morning session, pushing their sectoral index, Nifty Pharma, higher by about half a per cent in a weak market.
The Nifty Pharma index was up 0.30 per cent at 22,231, around 9:50 AM, with 14 out of the total 20 stocks in the green. Equity benchmark Nifty 50 was 0.13 per cent down at 25,489 at that time.
As Mint reported earlier, Trump has warned that pharmaceuticals could face an even steeper tariff, though he suggested the move would not be immediate.
'They're going to be tariffed at a very, very high rate, like 200 per cent,' Trump said, adding that the measure would be announced soon and take effect after at least a year.
Steeper tariffs on pharmaceutical imports to the US could be a significant negative for Indian pharma firms, as the US is India's largest overseas market for pharmaceuticals.
(This is a developing story. Please check back for fresh updates.)
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