Sun Pharma, Cipla & other pharma stocks shed over 2% as Trump announces up to 200% tariffs on generic drugs from 2028

Pharma stocks, including Sun Pharma, Cipla, Lupin and Dr Reddy's, fell up to 2.5% after US President Donald Trump announced a phased tariff plan on imported generic drugs. While generics will remain tariff-free for two years, duties will rise to 100% from August 2028 and 200% from August 2029, weighing on investor sentiment.