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Fri. Apr 3rd, 2020

Aviance Tech News

News.Information.Technology

Coronavirus outbreak: Paracetamol prices rise 40 percent in India

The coronavirus outbreak, which has caused over 1,800 deaths in China, has forced some factories in the country to halt production.

Prices of paracetamol, a medicine commonly used to treat fever, have gone up 40 percent in India as the coronavirus outbreak hit production in China according to a report by The Times of India.

The price of azithromycin, an antibiotic, has risen by 70 percent, Pankaj R Patel, chairman of Zydus Cadila told the publication.

The coronavirus outbreak, which has caused over 1,800 deaths in China, has forced some factories in the country to halt production.

This hurts the supply chain distribution of products to other countries, such as India, which is the world’s largest generics supplier.

If supplies do not recover by the first week of March, then the Indian pharmaceutical industry could face some shortage in finishing drug formulations starting from April, Patel told the paper.

In the short-to-medium term, there might be a significant increase in the cost of active pharmaceutical ingredients — the basic substance used to make drugs, Patel added.

India relies on China for 80 percent of its active pharmaceutical ingredient requirement, the report added.