New Delhi, July 22 -- Pharma stocks in India declined in early trade on Wednesday after US President Donald Trump announced a phased tariff plan for imported generic medicines. The Nifty Pharma index fell nearly 2% with all its constituents trading in the red.

Lupin, Gland Pharma, Aurobindo Pharma, Ajanta Pharma, Sai Life Sciences and Zydus Lifesciences shares were among the top losers on the Nifty Pharma index, falling more than 2% each.

Piramal Pharma, Alkem Labs, Cipla and Glenmark Pharmaceuticals shares were also among the top losers.

Trump announced a phased tariff plan on imported generic drugs to encourage domestic pharmaceutical manufacturing. Under the proposal, generic drugs imported into the US will continue to face a 0% tar...