{"id":169,"date":"2020-08-13T14:25:06","date_gmt":"2020-08-13T08:55:06","guid":{"rendered":"http:\/\/www.cironpharma.com\/blog\/?p=169"},"modified":"2023-08-22T10:34:34","modified_gmt":"2023-08-22T05:04:34","slug":"coronavirus-impact-on-pharma-exports-from-india","status":"publish","type":"post","link":"https:\/\/www.cironpharma.com\/blog\/coronavirus-impact-on-pharma-exports-from-india\/","title":{"rendered":"Coronavirus Impact on Pharma Exports from India"},"content":{"rendered":"\n

India is among the leading countries in pharma production\nvolumes for generic drug manufacturing. Producing more than 40% of generics\nglobally, the country is often referred to as \u2018Pharmacy of the World.\u2019 Indian\npharma industry is also a source of vaccines for over 50% of the total global\ndemand. <\/p>\n\n\n\n

The major portion of Pharma\nExports from India<\/a><\/strong> include intermediates, biologicals, herbal products,\ndrug formulations, surgicals and bulk drugs. In 2019, India did exceptionally\nwell, generating around 1.3 trillion rupees on pharmaceutical export. These\ngrowing records initiated many foreign investments & key M&A deals to\nscale the annual production rate. To envision the plan, government bodies\ndesigned various policies like Ayushman Bharat Yojana; backing the idea of\nemployment & economic growth.<\/p>\n\n\n\n

However, the outspread of COVID-19 badly altered the\nscenario of Indian pharmaceutical sector. To produce generics, high dependency\non API imports from China was one of the contributing limitations for the\ncountry. Sudden lockdown hampered the supply chain to and from China, affecting\nthe medicine manufacturer in\nIndia<\/a><\/strong>\nto source essential drug components. In addition to that, the\ngrowing tension between the countries made it harder to mitigate COVID-19 cases\nin India.<\/p>\n\n\n\n

Exports from India were impacted to some limit, dropping\nthe estimated export to $20 billion. Despite there is a 9.5% growth in drug\nformulations & biologicals, the second largest category of bulk export of\ndrugs & intermediates declined by -0.73%, making the country\u2019s overall\nperformance fall. <\/p>\n\n\n\n

After lockdown, buying pharmaceutical\nproducts from India<\/a><\/strong> was limited as physician consultations were shut\nand elective surgeries were delayed. While the Indian Pharmaceutical Market\nsoared at 8.9% in March 2020 due to panic buying of chronic medicines, it\nweakened by 11% in April & 9% in May.<\/p>\n\n\n\n

On the contrary, the global surging threat of coronavirus\naccelerated the dependency on the country\u2019s pharma sector. Within a few months,\ndrug manufacturers in India increased the trials & production of drugs that\nis helpful in treating COVID-19 cases. After receiving approval to manufacture\n& supply repurposed drugs after trials, to control the pandemic, US based\nGilead Sciences made an agreement with 6 Indian Pharma Companies to produce\n& distribute Remdesivir in 127 countries. Similarly, the rocketing global\ndemand of Hydroxychloroquine (HCQ) ramped up its production rate in the\ncountry. As per the recent assessment results, the country has the capacity to\nmanufacture upto 40 tonnes of HCQ, i.e. 70% of the total supply across the\nworld.<\/p>\n\n\n\n

Furthermore, the current competition to develop a vaccine\nwill resurface the priority on preventive health rather than curative health.\nAnd, with 70% of WHO vaccine requirements are sourced from India its demand\nwill account for increment in overall global supplies.<\/p>\n\n\n\n

As a result, India is believed to regear its\npharmaceutical export rate exponentially in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"

India is among the leading countries in pharma production volumes for generic drug manufacturing. Producing more than 40% of generics globally, the country is often referred to as \u2018Pharmacy of the World.\u2019 Indian pharma industry is also a source of vaccines for over 50% of the total global demand. The major portion of Pharma Exports<\/p>\n","protected":false},"author":1,"featured_media":170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,60,41,61,7,1],"tags":[18,80,12,81,5,21,63,19,82,62,85,83,6,84,40,64,65,66,39,68,67,69,70,71,72,36,4,73,38,14,74,75,37,23,76,77,78,79,24,57,25,34,86],"_links":{"self":[{"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/posts\/169"}],"collection":[{"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/comments?post=169"}],"version-history":[{"count":1,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions"}],"predecessor-version":[{"id":171,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/posts\/169\/revisions\/171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/media\/170"}],"wp:attachment":[{"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/media?parent=169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/categories?post=169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cironpharma.com\/blog\/wp-json\/wp\/v2\/tags?post=169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}