Indian pharmaceutical stocks opened in deep red today, with the Nifty Pharma index falling 1.82 per cent to 21,576.85 points as markets reacted to US President Donald Trump’s announcement of a 100 per cent import tariff on branded pharmaceutical products, effective October 1, 2025.

The sector witnessed broad-based selling with 19 out of 20 stocks declining. Sun Pharma led the losers, dropping 2.76 per cent to ₹1,582.50, while Biocon fell 3.24 per cent to ₹344.40. Natco Pharma was the worst performer, declining 3.51 per cent to ₹812.75. Only IPCA Labs managed to stay in positive territory with a marginal 0.10 per cent gain.

Choice Institutional Equities analyst Maitri Sheth warned that the tariff could negatively impact Indian pharmaceutical exporters, as the US represents their largest

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