Indian pharma stocks slide as Trump says 'Never seen before' pharma tariffs coming

Indian pharma stocks crashed after US President Donald Trump said, "Pharma tariffs are going to come in at levels you haven't really seen before." He added, "We'll be announcing that sometime in the near future." Nifty Pharma index slumped, with Aurobindo Pharma and Lupin's stock down 7%. As of 2024, India emerged as the world's largest supplier of generic medicines.