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Prolongation Of Coronavirus Outbreak In China Could Hit Indian Pharma Sector

New Delhi. Indian pharmaceutical companies are eyeing the impact on the supply of active pharmaceutical ingredients caused by the corona virus in China. China accounted for 67.56 percent of the total Indian imports of pharmaceutical ingredients in FY 2018-19. It is worth 240.54 million dollars by value. If the situation in China does not start improving soon , it could have an impact on the domestic  pharmaceutical industry . 

Sudarshan Jain, general secretary of the Indian Pharmaceuticals Alliance (IPA), said, ‘All companies are monitoring the situation. The government is also aware of the matter and all parties are working together to deal with the situation. He said that the progress in the situation in China, important active ingredient stores, etc. are being closely monitored and search for alternative sources from where regulatory approvals for procuring selected ingredients can be obtained. 

Jain said, ‘India is dependent on imports for ingredients like antibiotics and vitamins. Companies maintain a stock of these ingredients for two-three months. ‘ A spokesperson for the pharmaceutical company Sanofi India said, ” It is too early to predict the effect of corona virus . We are closely monitoring the situation to ensure that there are no supply constraints.-Indiatv

 

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