China starts taking advantage of India's dependence, raises drug raw material prices

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- Alarm bells are ringing for the country, drug prices are rising

New delhi date. Monday, June 22, 2020

If your dependence on anything exceeds a certain level, it can easily take advantage of you. The same is true of India and China. China is taking an aggressive stance after a military clash in the Galvan Valley in Ladakh.

India manufactures about 39 39 billion worth of medicine every year. But India is so dependent on China for the key Starting Materials needed to prepare it, it has now begun to take advantage.

Indian companies rely heavily on China for the required starting material, API. The Indian company meets 70 per cent of its API requirements from China. For some drugs, up to 90 percent is dependent on China.

China is doing a double attack
 The chairman of the Pharmaceutical Export Promotion Council under the Ministry of Commerce and Industry said that China was launching a double attack on India after the Galvan Valley incident. On the one hand, it is attacking the border, on the other hand, it has started taking advantage of India's dependence. Rising APIs have pushed up drug prices.

27 percent jump in the price of paracetamol
 The price of paracetamol has risen by 27 per cent, the price of ciprofloxacin by 20 per cent and the price of penicillin G by 20 per cent. In this way, each drug has seen a 20 percent increase.

India is the third largest pharmaceutical manufacturer in the world
 This is a serious situation as India is the third largest producer of drugs in the world in terms of volume. India's largest pharmaceutical companies such as Doctor Reddy, Lupine, Glenmark, Mylan, Zydus Cadila and Pizzfire rely heavily on China for APIs. Eighty to 90 per cent of India's 53 important farms depend on China for APIs.

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