NEW DELHI: The coronavirus outbreak has started to hit Indias pharmaceutical sector, with the prices of key ingredients rising. The latest price moves have nudged the government into action, which will hold a series of meetings with top sectoral executives beginning next week.
According to the data available with Pharmaceutical Export Promotion Council (Pharmexcil), the cost of paracetamol has gone up from Rs 250-300 kg to 400-450 kg. Similarly, montelukast sodium (an anti-asthma drug) is trading between Rs 52,000 and Rs 58,000 per kg, compared with Rs 33,000-38,000 per kg a few months ago, said Dinesh Dua, chairman, Pharmexcil, which functions under the Ministry of Commerce and Industry.
Similarly, the prices of vitamins and penicillin have shot up 40-50%. The industry also complained that all vitamins were trading at double or triple the price, Dua said.
As pharmaceutical companies face the likelihood of disruptions due to extended factory closures in China, the government think-tank Niti Aayog has called a high-level meeting with top drug makers and policy makers to discuss options for domestic manufacturers dependent on China for Active Pharmaceutical Ingredients (APIs). Top drug makers including Dr Reddy's, Lupin, Glenmark, Mylan, Zydus healthcare, Pfizer, and Biocon will be attending the meeting, scheduled to be held on February 19.
According to the latest data compiled by Indias drug regulatory authority, 57 APIs of crucial antibiotics, vitamins, and hormones or steroids could go out of stock in case of a prolonged lockdown in China. The list contains antibiotics like Azithromycin, Amoxicillin, Ofloxacin, Metronidazole, vitamins such as B12, B1, B6, and E, female hormone progesterone and anti-cardiac arrest drug Atorvastatin, among others.
We are hoping that the situation will become normal soon. However, India will have to think about a long-term solution so that such a situation doesnt arise in the future, said Zydus group chairman Pankaj Patel.
For some APIs, especially antibiotics, the dependence on China is more than 90%. Bulk drugs, or APIs, are the raw materials used for making formulations or medicines. Intermediates, on the other hand, are chemical compounds that are used in producing APIs.
The Department of Pharmaceuticals (DoP) had on February 6 constituted a committee, tasked to recommend measures and steps to keep the situation under control. The panel, which is likely to send its recommendations early next week, is contemplating export restrictions on commonly used antibiotics, anti diarrhea drugs, vitamins and female hormone-replacement therapy as pharmaceutical companies in India face likely disruption due to extended factory closures in China.
The committee is all set to submit its recommendations to the DoP, suggesting ways to curb the shortage of metronidazole, chloramphenicol, progesterone and Vitamin B 2, said an official aware of the development.
Several meetings on the Chinese API dependency are scheduled next week. The minister of chemicals and fertilizers is also holding a meeting on Monday with the pharma experts. To reduce Indias dependence on China for APIs, the chemicals and fertilizers ministry had formed a task force to draw up a road map for raising production in the country.
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Covid-19 Impact: Pharma companies feel the pain as prices of key inputs shoot up - Economic Times
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