“’IS BUILDING’ will be defined as, ‘breaking ground’ and/or ‘under construction.’ There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started,” Trump wrote on Truth Social.
The decision is aimed at strengthening domestic production, while reducing dependence on sources abroad for premium, patent-protected medications.
The announcement is likely to affect Indian pharmaceutical firms that manufacture branded medicines abroad for the US market.
Several such firms, including Cipla, Dr. Reddy's Laboratories, Lupin, Aurobindo Pharma, Zydus Lifesciences, Sun Pharma, Syngene, Gland Pharma, Biocon and Piramal Pharma, export to the United States.
India exported pharmaceuticals worth $8.8 billion to the US in 2024, making the US its largest trading partner for pharmaceuticals. The country accounted for 38 per cent of India’s total pharmaceutical exports, underscoring its critical role as the leading destination for Indian drug shipments.
ALCHEMPro News Desk (DS)
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