Nifty Pharma down 2% after U.S. announces tariff on pharma

Nifty Pharma index slipped 2.14%, to 21,507.20 points after U.S. President Trump announced a 100% tariff on branded pharmaceutical trade, on September 26. The tariff kicks in from October, Mr. Trump said.

Nifty Pharma Index responded to the news and fell over 2% which is the steepest fall since August 2025. The index was also the lowest since last month. To be sure, the index fell 8.32% on a year to date basis. BSE Healthcare index too fell 2.14% to 43,046.69.

Barring Torrent, IPCA Laboratories, and JB Chemicals which increased, the rest of the stocks in the index fell. Laurus Labs for instance fell 7.15% from it’s previous close. Torrent and JB Pharma stood out as better performers on Friday as their domestic revenue is reportedly about half of the their total revenue.

Companies with more U.S. dependence would be hit more and this is expected to increase focus to stocks of companies with more domestic revenue share “The decline in Sun Pharma was anticipated as they have a higher exposure to U.S. branded pharma market,” said Vishal Manchanda, equity analysts at Systematix Group. On Torrent’s share was up over 1%, he said that people hold Torrent for its domestic market and that’s the reason its performance. More information on how companies will react can be ascertained as more clarity emerges on the tariff situation he added.