Shares of Sun Pharmaceutical Industries Ltd declined sharply by 6% in early trade on Thursday, reacting to reports that the United States may impose tariffs on imported medicines.
According to a report by Bloomberg, the Trump administration is preparing to announce tariffs as soon as Thursday targeting drugmakers that have not agreed to measures ensuring lower drug prices in the US. While there has been no official confirmation yet, the development has triggered concern across global pharmaceutical stocks, including Indian exporters.
The proposed policy could reportedly include tariffs of up to 100% on imported branded and patented medicines. Such a move is expected to significantly impact companies with high exposure to the US market, prompting many global drugmakers to accelerate local manufacturing and build inventory buffers.
Sun Pharma, which derives a substantial portion of its revenue from the US, saw its stock fall to an intraday low of ₹1,620.00, compared to the previous close of ₹1,728.50. The stock opened at ₹1,665.00 and touched a high of ₹1,669.70 during early trading. The decline also comes amid elevated trading activity, with volumes crossing 5.53 lakh shares as of 9:25 AM (IST).
Despite today’s drop, the stock remains within its broader 52-week range of ₹1,548.00 to ₹1,851.20, indicating that long-term trends are still intact but near-term volatility may persist.