NEW YORK: Nine days before he is to be sworn as the 45th US President, Donald Trump in his first media conference as President-elect laid bare his views on the US pharmaceutical sector, as well as on the loss of American jobs in manufacturing. Without naming any country in particular, but both of which are issues with potential to hit Indian business interests at a large.

"We've got to get our drug industry back," he said.

"Our drug industry has been disastrous. They're leaving left and right. They supply our drugs, but they don't make them here, to a large extent," he said at the chaotic news conference on Wednesday in the lobby of Trump Tower in Manhattan, attended by some 250 journalists from the world over.

Trump's strong remarks on "overcharging" by pharma companies indicates a future tougher operating environment for foreign companies, including Indian, in the US.

Declaring pharma companies as "getting away with murder" in overcharging and sending capacity abroad, Trump said: "We are the largest buyer of drugs in the world, and yet, we don't bid properly." He promised to start such "bidding" and save billions of dollars for the US over a period of time.

HOW IT AFFECTS US?

The US is the largest market for Indian drug makers. In 2015, India exported $6 billion worth of drugs to the US and could feel the impact of the Trump announcement to change drug pricing policy. However, India could also gain from his plans to cut the cost of pharmaceuticals because of its leadership in generics.

IT’S IMMEDIATE OUTCOMES

Just hours after the press conference, Indian pharma companies were trading in red. The S&P BSE healthcare index receded by 110.99 points.

Shares of Sun Pharmaceutical, Dr. Reddy's, Lupin, Cipla, Cadila and Glenmark were down on the BSE. The scrip price of Cadila went down by 1.89 per cent to close at Rs 350.45 per share.

Lupin was down 2.03 per cent at Rs 1,489.45 and Dr. Reddy's 1.19 per cent at Rs 3,011.20. Sun closed at Rs 643.90 down 0.59 per cent. Wockhardt lost 11.30 points and closed at Rs 687.45, down 1.62 per cent.

Glenmark closed at Rs 889.95 per share, down 1.57 per cent. IPCA Labs closed at Rs 548.85, losing down 7.50 points. NATCO at the closing traded at Rs 640.40 down 0.09 per cent.

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