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India asks China to keep prices stable as costs for medical supplies surge
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Updated:
May 13, 2021 17:04 IST
‘Expecting supply chains to remain open and product prices to be stable’, says India’s Consul General in Hong Kong
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Priyanka Chauhan, India’s Consul General in Hong Kong. | Photo Credit:
Twitter/@CGIHongKong
‘Expecting supply chains to remain open and product prices to be stable’, says India’s Consul General in Hong Kong
India has asked Chinese authorities to ensure prices for key medical supplies remain stable as costs for oxygen concentrators and other critical goods have surged on the back of rising demand.
Relief for pharma as Chinese airlines set to resume service
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In some relief for Indian pharmaceutical industry and continuity in key raw materials supplies from China, Sichuan Airlines is resuming cargo services to India.
It will restart operations from Chengdu to Bengaluru on May 9 and Chengdu to Chennai from May 12, Pharmaceuticals Export Promotion Council of India director general Ravi Udaya Bhaskar said, citing a communication from a senior official of the Department of Pharmaceuticals.
The decision is bound to bring cheer to the Indian pharmaceutical industry since its dependence on imports from China is high. Seeking intervention of the Indian Embassy in Beijing, after the airlines stopped operating to India earlier this month, Pharmexcil had said 60-70% of drug intermediates, KSM (key starting materials) and API (active pharmaceutical ingredients) requirements are sourced from China. About 45-50% of all APIs imported feature in the Na
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Any duty-free import allowed under advance licence has to be matched with exports, but exporters manufacturing remdesivir have been barred from exporting the drug following the government order. They are also not allowed to sell in the domestic market due to the advance licence condition.
AFP
A government order banning all exports of the drug remdesivir and its active pharmaceutical ingredients has landed exporters in a fix.
Any duty-free import allowed under advance licence has to be matched with exports, but exporters manufacturing remdesivir have been barred from exporting the drug following the government order. They are also not allowed to sell in the domestic market due to the advance licence condition.
Updated:
April 17, 2021 13:39 IST
At $24.4 billion, best performance and came even as global pharma market growth in 2020 declined
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The growth trend is expected to continue owing to the increased demand for generics and vaccines from the country. File
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At $24.4 billion, best performance and came even as global pharma market growth in 2020 declined India’s pharmaceutical exports grew 18.70% to $24.44 billion in the financial year ended March 31, 2021.
Best performance thus far, in value terms, it came even as the global pharma market growth declined by 1-2% in 2020. Making it happen was a surge in demand for made in India generics owing to their quality and affordability, Pharmaceuticals Export Promotion Council of India Director General Ravi Udaya Bhaskar said.