** J.P. Morgan favours Indian pharma stocks with a domestic focus, like Mankind Pharma MNKI.NS and Abbott India ABOT.NS, over generic drugmakers that have a high U.S. exposure

** Companies like Zydus Lifesciences ZYDU.NS (42% U.S. revenue), Lupin LUPN.NS (34%), and Dr Reddy's REDY.NS (32%) face higher risks due to potential U.S. reciprocal tariffs, says J.P. Morgan

** U.S. President Donald Trump's administration plans to impose tariffs on pharmaceuticals, other sectors from April 2

** If pharma goods are exempted or India waives tariffs, it could benefit Indian exporters but a 10%-25% tariff on pharma imports would negatively impact sector - J.P.Morgan

** JPM also prefers hospitals such as Max Healthcare MAXE.NS, Fortis Healthcare FOHE.NS, Apollo Hospitals APLH.NS, and Rainbow Child RAIB.NS

** Pharma .NIPHARM and healthcare indices .NIFHEIN rise ~0.6% on the day

** Stock movements: Abbott India (+2%), Rainbow (+2.7%), Apollo (+0.3%), Mankind (-1.3%), Zydus (+1.7%); Lupin and Dr Reddy's flat

** Pharma index down 7.1% in 2025 so far, underperforming Nifty 50 .NSEI, which is flat

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))