Indian pharma stocks tumble on Trump tariff threat. Sun Pharma, Divis Laboratories, Glenmark, and Cipla fell up to 6% Thursday after reports that the Trump administration may impose 100% tariffs on drugmakers without price agreements. Sun Pharma dropped 5.3% to Rs 1,635, with the US market representing 31% of its revenue. The sector faces dual headwinds as the Indian rupee surged 1.8% to its strongest level in over 12 years, driven by Reserve Bank curbs on speculative activity. A stronger rupee reduces dollar-denominated overseas earnings when converted to rupees, directly impacting revenue growth. Companies without negotiations face potential tariffs, though exemptions for certain medicines remain possible.
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