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US drug tariff risk limited for Indian pharma; Sun Pharma exposure in focus: Vishal ManchandaAccording to Vishal Manchanda, Pharma Analyst, Systematix Group, potential US action on drug pricing is seen as focused on patented medicines, limiting direct impact on Indian generic manufacturers. Companies with higher exposure to specialty drugs may need to consider pricing agreements to avoid penalties. The expected earnings impact for affected firms remains contained. Sector dynamics continue to favour businesses with lower dependence on US generics, while policy developments and ongoing investigations remain key factors to monitor.By Ekta Batra  April 2, 2026, 8:05:02 PM IST (Published)2 Min ReadVishal Manchanda, Pharma Analyst, Systematix Group, said potential US tariffs on pharmaceuticals are unlikely to have a broad impact on Indian drug makers, as the focus remains on branded and patented medicines.

The comments come amid reports that the US President Donald Trump administration may consider tariffs on drug companies that have not agreed to pricing deals in the US.

Manchanda said the key uncertainty is whether such tariffs will be implemented. He said, “I'm not sure whether these tariffs would eventually be imposed”.

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He added that even if tariffs are introduced, the impact would be limited to select companies with higher exposure to branded drugs. He said the company in question is Sun Pharma, highlighting its presence in the US speciality segment.

According to him, companies like Sun Pharmaceutical Industries could respond by entering into pricing agreements similar to those of global peers to avoid tariffs.

He said that in a downside scenario, the financial impact would be contained. He noted, “The impact on EBITDA would be close to 2-3%.”

He said, “It's difficult for the US to kind of put any tariffs on the generic drugs,” as these remain a key part of the healthcare supply chain.

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He added that global companies that have already signed agreements with the US have avoided tariff risks while retaining other operational benefits.

Manchanda maintained a positive view on Sun Pharma, citing its lower dependence on US generics and higher share of branded products, which may support growth compared to peers.

Catch all the latest updates from the stock market hereContinue Reading(Edited by : Ajay Vaishnav)Tagsgeneric drugSun Pharmaceutical Industriestrump tariffsUS genericUS President Donald Trump