Shares of Gland Pharma Ltd fell 5.29% to ₹1,477.00 on Friday, slipping ₹82.50 from the previous close of ₹1,559.50, following renewed concerns around potential U.S. tariffs on pharmaceutical imports. The sell-off followed remarks from U.S. President Donald Trump, who said his administration is reviewing pharma tariffs at “levels you haven’t really seen before,” adding that an announcement could come in the near future.
Trump, while speaking aboard Air Force One, stated, “We are looking at pharmaceuticals as a separate category. It’s under review right now.” The statement reversed Thursday’s pharma rally, which was triggered after the sector was temporarily exempted from reciprocal tariff actions.
Trump’s administration is expected to probe the pharma sector under Section 232 of the Trade Expansion Act of 1962, allowing the U.S. government to impose restrictions on imports that threaten national security. This could lead to higher costs for exporters like Gland Pharma.
Citi analysts believe passing on the tariff cost to end patients may prove challenging, potentially forcing supply chain participants to absorb the price hike, thereby pressuring margins.
Nomura, in its latest note, estimated Gland Pharma’s U.S. dollar revenue to reach $372 million in FY26 and $393 million in FY27. The brokerage noted that the company derives a significant portion of its overall revenue from the U.S. market, making it vulnerable if tariffs are imposed.
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