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Coronavirus Spotlights India Drug Industry's Reliance on China
By Anjana Pasricha
February 27, 2020 07:29 AM
NEW DELHI - A spike in prices of pharmaceutical ingredients in the wake of the coronavirus outbreak in China is impacting Indian drugmakers and has raised concerns about the vulnerability of one of the world’s major producers and exporters of generic drugs to shortages.
The Indian drug industry imports nearly 70 per cent of raw pharmaceutical ingredients from China.
While big companies have said they have enough stock to last them for about two months, smaller manufacturers have been hit by price hikes.
“Paracetamol was Rs 275 (about $ 4) about one month or six weeks back. It has gone up to Rs. 450 ($ 6.3) a kilogram,” according to T. Srikrishna, the chief executive officer at Low Cost Standard Therapeutics, a not-for-profit generic drug manufacturer in Gujarat. “Anything which has got a link to China has been affected.”
By Anjana Pasricha
February 27, 2020 07:29 AM
NEW DELHI - A spike in prices of pharmaceutical ingredients in the wake of the coronavirus outbreak in China is impacting Indian drugmakers and has raised concerns about the vulnerability of one of the world’s major producers and exporters of generic drugs to shortages.
The Indian drug industry imports nearly 70 per cent of raw pharmaceutical ingredients from China.
While big companies have said they have enough stock to last them for about two months, smaller manufacturers have been hit by price hikes.
“Paracetamol was Rs 275 (about $ 4) about one month or six weeks back. It has gone up to Rs. 450 ($ 6.3) a kilogram,” according to T. Srikrishna, the chief executive officer at Low Cost Standard Therapeutics, a not-for-profit generic drug manufacturer in Gujarat. “Anything which has got a link to China has been affected.”