From Laurus Labs, Lupin to Biocon— Pharma stocks rise up to 3% despite Trump's 200% tariff threat

Pharma stocks exhibited remarkable resilience in the morning trade on Wednesday, July 9, despite US President Donald Trump's threat of a very high tariff of up to 200 per cent.

Several pharma stocks, including Laurus Labs, Lupin, Biocon, Cipla and Divi's Labs, rose up to 3 per cent in the morning session, pushing their sectoral index, Nifty Pharma, higher by about half a per cent in a weak market.

The Nifty Pharma index was up 0.30 per cent at 22,231, around 9:50 AM, with 14 out of the total 20 stocks in the green. Equity benchmark Nifty 50 was 0.13 per cent down at 25,489 at that time.

As Mint reported earlier, Trump has warned that pharmaceuticals could face an even steeper tariff, though he suggested the move would not be immediate.

“They're going to be tariffed at a very, very high rate, like 200 per cent,” Trump said, adding that the measure would be announced soon and take effect after at least a year.

Steeper tariffs on pharmaceutical imports to the US could be significantly negative for Indian pharmaceutical firms, as the US is India’s largest overseas market for pharmaceuticals.

According to government data, India’s pharmaceutical exports in FY25 rose by 9.40 per cent year-on-year to $30.46 billion. Among the top five export destinations, the US ranked first with a 34.51 per cent share. The UK came in second, accounting for 3 per cent of the total exports.

(This is a developing story. Please check back for fresh updates.)

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