Shares of Dr Reddy’s Laboratories jumped 5% on April 3 after the U.S. administration confirmed that pharmaceutical products would be exempt from the newly imposed 26% reciprocal tariff on Indian goods.
On April 3, U.S. President Donald Trump announced steep reciprocal tariffs on key trading partners, citing a 52% trade and non-tariff barrier burden on American exports. India was among the countries hit, facing a 26% import duty on its products entering the U.S. However, the White House later clarified that the tariff would not apply to pharmaceuticals, copper, semiconductors, and lumber.
The exemption is a major relief for India’s pharma sector, as the U.S. remains its largest export market. Dr Reddy’s, Sun Pharma, and Cipla—key Indian drugmakers with strong U.S. exposure—saw positive market sentiment, with Dr Reddy’s leading the gains.
Dr Reddy’s Laboratories’ stock opened at ₹1,190.50 and touched an intraday high of ₹1,226.90 before dipping to ₹1,183.05. The stock remains volatile, trading near ₹1,200 levels. Its 52-week high stands at ₹1,421.49, while the low is ₹1,092.45.
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