Ann: Commercial Update and Regulatory Progress, page-319

Over the past 24 hours, several pharmaceutical stocks have experienced notable declines, influenced by recent geopolitical developments and market reactions:

U.S. Pharmaceutical Stocks:

• Pfizer Inc. (PFE):Closed at $21.84, down 3.5%, reaching its lowest point since 2012.Barron's+1Yahoo Finance+1

• Merck & Co Inc. (MRK):Dropped by 2.77%, closing at $78.95.

• Bristol-Myers Squibb Co. (BMY):Declined by 3.73%, ending at $53.07.

• AbbVie Inc. (ABBV):Experienced a significant drop of 5.82%, closing at $175.67.

Indian Pharmaceutical Stocks:

The Nifty Pharma index fell by approximately 2% to 20,063.40.Notable declines included:Angel One+1Reuters+1Business Insider+2Reuters+2Angel One+2

• Biocon:Down 3.57%.

• Laurus Labs:Decreased by 3.18%.Angel One

• Gland Pharma:Fell by 2.94%.TradingView+2Angel One+2MarketWatch+2

• Ipca Labs:Dropped 2.91%.TradingView+4Yahoo Finance+4Yahoo Finance+4

• Lupin:Down 2.62%.Angel One

Market Influences:

These declines are largely attributed to U.S. President Donald Trump's announcement of forthcoming "major" tariffs on pharmaceutical imports, aiming to encourage domestic production.This policy shift has introduced uncertainty, particularly affecting companies with significant export relationships to the U.S.