Following the Trump administration in the US slapping 100 per cent tariffs on branded or patented pharmaceutical products effective October 1, pharma stocks led by Sun Pharma tanked.
The Mumbai-headquartered medical manufacturer is a Sensex component. Sun Pharma was the biggest loser in the 30-pack index in Friday trade so far.
The benchmark index slid as much as 451 points to a low of 80,704.34 in the morning.
The Nifty also slumped, shedding around 131 points to a 24,759 low in early trading on Friday.
Other Sensex laggards were Asian Paints, Tech Mahindra, Infosys, Power Grid, HCL Tech, and Tata Steel.
The Indian pharmaceutical sector faced a challenging period YTD through September 25, 2025, followed by additional immediate impact from Trump’s pharmaceutical tariff announcement.
Sun Pharma stock performance
Sun Pharma stock slumped close to 14 per cent year-to-date as of market close on Thursday. Today, the levels went below an additional 3 per cent. It reached a new 52-week low of Rs 1,548 per share today on the NSE.
Dr Reddy's stock performance
Dr Reddy's stock declined nearly 7 per cent year-to-date as of market close on Thursday. Today, the stock fell an additional 1.5 per cent following the tariff announcement.
Cipla stock performance
Cipla stock showed resilience with a modest decline of just over 2 per cent year-to-date as of market close on Thursday. Today, the stock also declined, but by just about 1.4 per cent despite the tariff concerns.
Divi's Labs stock performance
Divi's Labs stock fell close to 3 per cent year-to-date as of market close on Thursday. Today, the stock fell an additional 2 per cent following Trump's announcement.
Lupin stock performance
Lupin stock witnessed the steepest decline of nearly 17 per cent year-to-date as of market close on Thursday. Today, the levels dropped an additional 2.3 per cent amid tariff worries. The stock has been under pressure throughout the year, moving closer to its 52-week low of Rs 1,795.20, which it hit in April.
