Business news · Global · 29 Sept 2026
IN Healthcare
Washington's 100% Section 232 tariff on specified patented medicines took effect on September 29. The US Commerce Department put India among 20 jurisdictions eligible for zero duty on certain specialty products: orphan drugs for rare diseases, fertility treatments, cell and gene therapies, antibody-drug conjugates and veterinary medicines. The relief covers specific products and is not a blanket exemption. India's pharma exports were $31.1 billion in FY26, of which $9.47 billion (30.4%) went to the US.
The US is the largest single export market for Indian drugmakers. Most of what they ship there is generics, and the Commerce Department said generics and their ingredients fall outside the Section 232 tariff. That leaves their exposure limited to branded and specialty lines. The report names Sun Pharma, Dr Reddy's, Cipla, Biocon, Zydus Life, Shilpa Medicare and Hester Bio as the companies in focus. Firms with patented or specialty products in the US that are not on the zero-duty list still face the 100% rate on those products.
Reported by Business Today — “Pharma stocks: Sun Pharma, Dr Reddy's, Cipla, Biocon and others in focus today; here's why” ↗ on 29 Sept 2026.
NSE stocks, from the last close on or before 29 Sept 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Healthcare | 74 | -6.5% | 4 of 74 | -4.6 pts |
| All tracked stocks | 804 | -1.9% | 307 of 804 | — |
| Company | Then | Now | Move |
|---|---|---|---|
| Biocon Ltd. BIOCON | ₹377 | ₹349.2 | -7.4% |
| Hester Biosciences Limited HESTERBIO | ₹2,165 | ₹2,236.5 | +3.3% |
| Shilpa Medicare Ltd. SHILPAMED | ₹1,055.75 | ₹937.6 | -11.2% |
| Zydus Lifesciences Ltd. ZYDUSLIFE | ₹1,200.5 | ₹1,123 | -6.5% |
| Sun Pharmaceutical Industries Ltd. SUNPHARMA | ₹1,865 | ₹1,758.8 | -5.7% |
| Cipla Ltd. CIPLA | ₹1,379.3 | ₹1,325.1 | -3.9% |
| Dr. Reddy's Laboratories Ltd. DRREDDY | ₹1,251.9 | ₹1,233 | -1.5% |
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