Stocks of leading Indian drugmakers fell on Friday, even though the 100% U.S. tariffs on branded and patented drug imports are unlikely to affect these companies.

Indian companies mostly export generic drugs to the U.S., so the likely impact will be pretty minimal, Sudarshan Jain, an official at the Indian Pharmaceutical Alliance, told CNBC.

Yet, shares of large Indian drugmakers like Sun Pharmaceutical and Divi's Laboratories fell by 2.5% and 3.5% on Friday, with even the sector benchmark Nifty Pharma Index falling by over 2%.

While the worries of investors might seem misplaced, Ayush Abhijeet, director of investments at White Oak Capital Partners, told CNBC that global market participants are seeing this as the sequence of events over the last couple of months.

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