Manchanda said the key uncertainty is whether such tariffs will be implemented. He said, “I’m not sure whether these tariffs would eventually be imposed”.
Also Read | JPMorgan’s Mookim sees value in large banks; renewables, defence draw interest amid volatilityHe added that even if tariffs are introduced, the impact would be limited to select companies with higher exposure to branded drugs. He said the company in question is Sun Pharma, highlighting its presence in the US speciality segment.
According to him, companies like Sun Pharmaceutical Industries could respond by entering into pricing agreements similar to those of global peers to avoid tariffs.
He said that in a downside scenario, the financial impact would be contained. He noted, “The impact on EBITDA would be close to 2-3%.”He said, “It’s difficult for the US to kind of put any tariffs on the generic drugs,” as these remain a key part of the healthcare supply chain.
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He added that global companies that have already signed agreements with the US have avoided tariff risks while retaining other operational benefits.
Manchanda maintained a positive view on Sun Pharma, citing its lower dependence on US generics and higher share of branded products, which may support growth compared to peers.
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