Press Release: April 10, 2020
Indian pharma which has less than 20 players in the HCQ formulation ( tablet ) market which is working day and night to enhance supplies of HCQ tablets for its Coronavirus patients in India.
Interestingly, HCQ is no more a primary anti-malarial drug. It is mostly used globally to treat some immunological diseases like Lupus and Rheumatoid Arthritis. Indian drug formulators export 80-85 percent of the production to almost all parts of the world, as global pharma majors more or less stopped large scale production of this low-cost molecule due to lack of demand.
However with the large scale demand of this drug across the world for a “ prophylactic use” in the COVid pandemic, Indian pharma id faced with a dual challenge of catering to both domestic and global demand.
It needs to see that raw material/ API of this medicine has very fewer suppliers in India. The raw material procurement for this medicine has been traditionally done from China where the number of suppliers is at least 50.
The Indian government has currently banned and placed strict regulations on all international shipments particularly China. Raw material costs for this drug varies from as low as USD 65 per kg to USD 260 per kg and the same fluctuates on a daily basis.
Indian pharma companies are requesting government intervention to airlift raw material supplies of HCQ from China to cater to the rising global demand.
So where are we?
We go to the country to take raw material from where a deadly virus has originated.
Believe it or not, China is the largest supplier of raw material for drug production to the largest medicine manufacturer in the world.
It is the urgent need of the hour that India reduces its raw material/bulk drug/ API dependence on China and take special economic permissions from the government to manufacture them on the honing ground at competitive prices.
Indian pharmaceutical industry can in the near future not only create more production lines, serve as a lifesaver on terms of treatment but also create newer/ additional jobs in the bulk drug sector.
Else forever, with every passing decade, the dilemma/s similar to that of the HCQ production will continue...
As the world is strengthening its fight against COVID19, we deep dive into the Hydroxychloroquine market. Hydroxychloroquine is looked at as a possible treatment for COVID19 virus. Our report looks into the major players in the field of raw material and manufacturing of COVID19.
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