Pharma stocks fall up to 4% after Trump says pharma tariffs coming very soon

Pharma stocks plunged after President Trump announced potential tariffs on imported medicines, impacting Indian drugmakers significantly. India, a major medicine supplier to the U.S. with $12.72 billion in exports in 2024, faces challenges. Experts warn that tariffs could raise production costs and reduce competitiveness for Indian firms, despite their crucial role in the U.S. healthcare system.