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Sun Pharma is among the Indian companies with the highest exposure to branded pharmaceuticals.
Shares of Sun Pharma Ltd. fell as much as 6% on Thursday, April 2, on reports of the Trump administration announcing tariffs on drugmakers. Shares of other pharma companies have also declined along with India's largest drugmaker.
According to a Bloomberg report, the Trump administration plans to announce tariffs on drugmakers who have not struck deals guaranteeing lower prices in the US. The administration has been considering 100% tariff on imported branded and patented medicines, as US President Donald Trump has also highlighted earlier.
The speculation has already prompted global drugmakers to ramp-up US manufacturing and pile up on inventory.
Companies With Deals In Place
Companies like Pfizer and AstraZeneca have already signed deals with the Trump administration and received multi-year tariff exemptions in the process.
The deals were signed with companies like Johnson & Johnson and Merck, pledging expansion of their US operations and commitments to the new TrumpRx.gov platform.
Those companies that have not struck deals, will be subject to a 100% tariff with some exemptions to some disease categories and medicines.
Why Sun Pharma?
Sun Pharma is among the Indian companies with the highest exposure to branded pharmaceuticals.
For Financial Year 2025, US sales for Sun Pharma increased by 5.8% to ₹16,200 crore, comprising 31% of the overall sales. Growth in the US was led by the company's specialty portfolio.
Sun Pharma had generated 20% of its revenue from the innovative medicines portfolio in financial year 2025, compared to 18% in financial year 2024.
The spend on specialty R&D is 30% of the total R&D spend and around 7% of specialty sales.
Key Sun Pharma Products
Illumya is the company's largest product, along with Winlevi, Cequa and Odomzo.
The company, in May 2025, had acquired Checkpoint Therapeutics, focused on novel treatments in cancer.
Sources within the company though, have told CNBC-TV18 that they are unlikely to see any impact.
Shares of Sun Pharma are among the top losers on the Nifty 50 index on Thursday and for the week, declining 3.8% lower at ₹1,662.6.
