We have recently read about the Coronavirus outbreak that has killed 110 people in China and infected more than 6000 people globally. The impact of coronavirus is not only fatal but also is felt by the country’s pharmaceutical industry as they do not import the products in the bulk quantities as used to be. Therefore, Indian pharmaceutical companies are bracing for a hit on the supply of the raw material used in the pharma franchise company. This will affect if the current scenario of coronavirus infection will happen to continue in China. Besides, in our article, we will further discuss how coronavirus is affecting the Indian Pharma Industry.
China – The hub of pharma imports
There’s no question that China is a major supplier of drug ingredients to India, especially widely used in the pharma market. For instance, we import the bulk of antibiotics and vitamins from China to a large extent. There are widely used drugs like penicillin Amoxicillin, Ampicillin, and Tetracycline that we buy from China. We also import Vitamins like Vitamin C and D. This is a sector where China has achieved global dominance throughout the world. Now, with the coronavirus scare, there will be the addition of a new dimension in the list of ingredients.
Hike in Prices on the Pharmaceutical products
As mentioned by the Indian Pharma experts, it could be challenging for the Indian pharma industry as imports bought from China could be an expensive treatment with the outbreak of the coronaviruses. This will be going to be affected by the 100 crore turnover of the Indian pharmaceutical sector. Therefore, it is expected to have a hike in prices on various pharma products like ortho, derma, gynae, etc
Trade on the Pharmaceutical Sector
According to the Pharma Industry officials, trade has already been affected because of the outbreak of coronavirus. It depends upon Chinese how they bounce back quickly. In the worst scenario, it can lead to scarcity and higher prices just in few weeks. According to some, the effect has already been seen in the Chinese pharma market. The supplies in the trade have been decreased as the factories were remained closed for a month. This can create more panic in the Indian economy.
Trade-in Medicines
Though China dominated fermentation-based ingredient making, India has fortunately retained this in the treatment of tuberculosis despite this also being fermentation-based. For instance, take rifampicin that Lupin makes to treat TB.” Every year, around this time, pharma units in India, keep an inventory of the raw material since they know it is the New Year holiday time in China and units would be shut.
Trade with Wuhan Region
According to some analysts, Wuhan, the epicenter of the coronavirus is not a major pharmaceutical manufacturing hub, though it has many units. It is regions like Zhejiang on the East coast of China, which have more pharmaceutical manufacturing activity in China. However, the issue now is that the scare has gone beyond Wuhan and most are on alert.
Unhealthy conditions for Employers of the pharma industry
There is also a concern that because of the coronavirus if it continues to spread and infects more people, manufactures may struggle to maintain the health and safety of the employees to get the job done. It is important for at least for those who are working on drugs like Coronaviruses and another less deadly but important diseases.
Conclusion
To conclude, though the Indian pharma market will be going to suffer a major fall, Biotech Healthcare is prepared for all the circumstances. We give our 100% customer services to our clients so that they should not be affected in terms of the availability of the medicines. We give 24X7 customer services to the patients. We take care of the needs of our consumers who depend upon our products. We have robust business continuity plans in place to prepare for Coronaviruses and other diseases.
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