Shares of Sun Pharma, Dr Reddy's Laboratories, Cipla, Lupin, Aurobindo Pharma, and other pharma stocks declined up to 2.5% on Wednesday after US President Donald Trump announced a phased tariff plan for imported generic medicines, giving drugmakers a two-year reprieve before sharply higher duties kick in.
Sun Pharma shares declined 2% to Rs 1,924 on the BSE, while Cipla shares declined 2.5% to Rs 1,396 per share. Lupin shares also dipped 2.5% to Rs 2,452, while Dr Reddy's slipped over a percent to Rs 1,185 per share. Zydus, Alkem and Torrent Pharma also dropped up to 2%.
