By Admin 
Trump pharma tariff: The Indian stock market declined on Tuesday on Tuesday, the fifth day of tension between Iran and Israel. Today the Nifty slipped below 24,900 points. All the sectors closed on the red mark except IT. The Sensex fell 212 points to close at 81,583, while the Nifty fell 50 93 points to close at 24,853. The Nifty midcap and smallcap index also closed down by 0.5 percent.
Pharma companies decline in shares
Today, the shares of pharma companies also declined by 4 percent as US President Donald Trump says that he is going to impose tariffs very soon on the pharma sector. Today, after this announcement of Trump, Aurobindo Pharma shares fell 4 percent to Rs 1,094.4. Similarly, lupine, granules and Natco Pharma recorded a decline of 3-4 percent.
The share price of Laus Labs, Dr. Reddy’s, Sun Pharma and Glenmark Pharma has also declined by 2-3 percent. Amid this decline in shares of pharma companies, the Nifty Pharma Index saw a weakness of 2.2 percent. Out of 20, 19 stocks were trading in red mark.
Trump threatened to put tariff on pharma sector
In April, Trump announced to impose reciperoot tariffs on 60 countries of the world except the pharma sector. During that time, Trump had said that tariffs will be installed at the level on the pharma sector, which you have never seen before. Actually, Trump wants to put a tariff on pharmaceuticals products because he feels that America will benefit from it. If the dependence on imports is low, then the production of medicines in the US will increase. With this, Americans will also get medicines cheaper.
Trump’s decision affects India
Trump’s decision is going to have a big impact on India because India is one of the biggest suppliers of medicines for America. If Trump puts tariffs on pharmaceutical products, then it will cause great damage to India’s pharma sector. In 2024, India exported US $ 12.72 billion pharmaceutical products to the US.
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