Each new day is a new day for tariffs and last week the pharmaceutical sector was caught in the crossfire. The Trump administration’s prospective imposition of tariffs on pharmaceutical imports is a notable departure from the long-standing tradition of exempting pharma products from tariffs due to their public health importance. This move has precipitated uncertainty within India’s pharmaceutical industry which has a strong export portfolio. While the definitive scope of the policy remains indeterminate pending formal notification, if the tariffs hit the generics medicine, it would constitute a large shock for Indian pharma industry, currently constituting around $27 billion exports. This uncertainty is already registered in the equity markets, with pharmaceutical stocks plummeting by arou

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