Shares of pharma companies tumbled as much as 6% on Thursday, October 10, with the Nifty Pharma index falling 2%. Pharma stocks like Lupin, Cipla, Torrent Pharma, Alkem Laboratories and Aurobindo Pharma were among major laggards.

Lupin shares settled 5.58% lower at ₹2,158.50. The stock fell today after two days of consecutive gain. Cipla shares closed over 3% lower at ₹1,623.90 per share.

Meanwhile, shares of Torrent Pharmaceuticals fell 3.07% to settled at ₹3,448.

This was after news agency Reuters reported that the US Center for Medicare and Medicaid released a preliminary list of 101 generic drugs.
These drugs would be available for no more than $2 for a month’s supply to those under Medicare
Initial list includes common prescriptions such as:
-penicillin
-metformin
-lithium
-albuterol asthma inhalers
-drugs for high cholesterol, blood pressure, other chronic conditions

Further, the report said that the agency is seeking feedback following the pilot launch. The programme could start as early as January 2027.

It aims to test a simplified approach to offering low-cost generic drugs that can improve medication adherence.