Coronavirus Impact on India’s pharma Sector – Well, Covid-19 pandemic has spread all over the world. China originated virus has hit the boundaries of India on 3rd January 2020 when the first case of the coronavirus infected patient-reported from Kerala. The patient had some travel history from Wuhan, China. To stop the spread of COVID-19, the Honourable P.M declare nationwide lockdown in the country. Initially, it was for 21 days but now it has extended to two months till today. Also, the vaccine for battling against this virus has not been found until today. Researchers and doctors are exploring drugs to find out a solution. Let’s see what is Coronavirus Impact on India’s Pharma Sector.
The cases of Coronavirus infected patients are increasing day by day. India is highly dependent on China for the raw ingredients to make essential medicines. Its imports from China rose to $76.38 billion in 2017-18 from $60.41 billion in 2014-15 before dropping to $70.32 billion in 2018-19, but there is still a large imbalance in trade between the two countries — India imports much more from China than it exports to it. As per the data provided by the government, China supplies nearly 70% of the total bulk drugs and raw materials which are imported to make medicines in India. Now due to lockdown will the Indian pharmaceutical suffer cause of Coronavirus.
Indeed the outbreak of Coronavirus has a huge impact on the Indian pharmaceutical industry. But on the other hand, it has also created so many opportunities for the Indian pharmaceutical manufacturers to grab share from the Chinese competitors. Currently, India has two months of stock of APIs. But it may create a shortage in the upcoming months. Overall utilization of the existing manufacturing plants in India is a short term solution to such intruded supplies. This is the time for Indian pharma manufacturers to show their manufacturing power and save the country from further problems.
As per the reports, a committee of the pharmaceutical department stated that currently, we have sufficient stock of APIs to manufacture drugs for two to three months. All the authorities have been instructed to ensure the adequate supply of the APIs and take strict action against the black-marketing as well as illegal hoardings. The organizations have also been asked to monitor the availability of drugs and APIs.
The sales and demand for hand sanitizers are increasing day by day. Due to the massive requirement of hand sanitizers, the market store shelves are running out of the hand sanitizer stock. All the big brands have not sufficient stock to fulfill the necessities. This has allowed all the local players of the Hand Sanitizers to bring their stock in the market. The increasing demand has doubled the prices of hand sanitizers. The WHO advises the people to wash hands regularly and frequently with soap and water. This has also promoted the demand for hand sanitizers in the market.
According to the Trade Promotion Council of India, around 85% of active pharmaceutical ingredients sent by the Indian Companies are from China. Due to disrupted supply of APIs can result in shortages in the supply of the essential drugs in India. A larger proportion of the market is dependent on China such as penicillin, cephalosporins, and macrolides.
The COVID 19 has symptoms of fever, cough, cold, and body pains. To defeat all these symptoms anti-biotics are operating a major role in it. Many people are consuming anti-biotics unnecessarily just to secure themselves from this virus.
Mass purchasing of every product and its increasing demand has healthily changed the pharmaceutical industry. Assuredly it is the golden era for the pharmaceutical industry to grow and earn large values by providing not only sanitation products but other medications too.
As we all know that the vaccine for treating Coronavirus patients has not been founded until now. So, its is better to follow the precautions and stay at your home till the situation doesn’t get normal. Many people have lost their lives due to carelessness. Be a responsible citizen and stay at home with all the preventions.