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The conflict in the Middle East could impact Indian pharma exports to the MENA region, potentially leading to supply chain disruptions and shortages of essential drugs. Key Indian pharma companies like Sun Pharma, Dr Reddy's, and Lupin may be affected.
India's pharmaceutical industry, which is dependent on China for APIs, intermediates and bulk drugs, had seen an exponential price increase during Covid times. The rise in API prices continued until early this year. However, things have started to change, people in the know told ET.
India stopped producing the two input drugs about three decades ago and since then it has relied on China for their supplies. "As of now, we are largely dependent on China. With the initiative of the production-linked-incentive scheme, companies like Aurobindo are coming up with fermentation-based products like PenG," said Ravi Uday Bhaskar, director general, Pharmaceutical Export Promotion Council (Pharmexcil). "We will be in a better position in the coming few months."
Eswara Reddy along with Animesh Kumar (Assistant Drugs Inspector), Biocon Biologics' Associate Vice President L Praveen Kumar, and Synergy Network India Private Limited director Dinesh Dua, were arrested last year in the bribery case allegedly to waive the Phase 3 clinical trial of 'Insulin Aspart' injection, a product developed by the company to manage Type 1 and Type 2 diabetes. However, Biocon Biologics, a subsidiary of Kiran Mazumdar Shaw-led Biocon, denied the allegations of bribery.
(This story has not been edited by THE WEEK and is auto-generated from a PTI