Global pharma shares plunge as Trump doubles down on tariff threat

Shares of AstraZeneca, GSK , Roche, Sanofi and Novartis fell between 5 per cent and 6.5 per cent in Europe. Meanwhile, Indian pharmaceutical stocks closed nearly 2 per cent lower, dragging down the benchmark Nifty 50 by 0.6 per cent.

IPCA Laboratories, Glenmark Pharma and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4 per cent and 5.5 per cent lower.

India’s pharma exports to the US mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India’s overall pharma exports.