New Delhi, April 16 -- ICICI Prudential Mutual Fund lapped up shares of mid-cap pharma stock Gland Pharma from the open market despite an over 10% fall in its shares during the month of April so far.

Gland Pharma shares have faced a heavy selloff this month amid fears of the imposition of tariffs on pharma goods by US President Donald Trump. While pharma was exempted from the list of sectors where the US imposed levies, Trump announced that pharma tariffs will be set at unprecedented levels.

"We are considering pharmaceuticals as an individual category. An announcement regarding this will be made in the near future, not too far off. It is currently under examination," he said on April 4.

According to a report by Jefferies, Gland Pharma...