Impact of Coronavirus on Indian Pharma Industry
While China is working on the control of the spread of the coronavirus that has claimed about 1300 lives, there is less likely that there is another victim of the outbreak, i.e. Indian pharmaceutical company. The main reason is India imports from China in bulk, nearly 70 percent of its raw material and ingredients to make drugs, doing the business of worth US$ 4.5 billion every year. These ingredients are the key starting materials used in the industry, which vary from vitamin tablets, hormone injections, blood pressure medication, lifesaving antibiotics, etc. According to the official figures, since 2015, the pharmaceutical ingredients have been top 10 lists of imports in China and the sizeable chunk of these cost the US $ 19.1 billion worth of business. Not only India, even United States drug makers are dependent on China for the key raw materials for medicines that many Americans cannot survive without them. In this article, we will talk about what are the impacts of coronavi