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Hospital stocks slide after US exempts some specialty drugs from tariffs
Several hospital operators fell as much as 7% in morning trade, with the move linked to US tariff exemptions for qualifying speciality medicines and ingredients.
Hospital stocks fell sharply in Wednesday morning trade as investors sold shares across the sector, with declines reaching up to 7% in early moves.
LiveMint Markets reported that Max Healthcare, Apollo Hospitals Enterprise, and Fortis Healthcare were among the hardest hit, alongside other hospital names that were down roughly 3% to 7% during the session.
The selloff was attributed to profit booking after the US announced that certain speciality medicines and their ingredients would be exempted from a new 100% tariff on patented drugs.
The exemption covers medicines used for rare diseases and specialised therapies, including infertility treatments, cell and gene therapies, and antibody-drug conjugates, according to LiveMint Markets.