Impact of covid 19 on Pharma sector

India is a leading exporter in generic pharma sector. The Indian pharmaceutical

industry is that the world’s third largest drug producer by volume and also the
country’s market manufactures 60 percent of vaccines globally. India supplies
low-cost generic drugs to innumerable people round the world.
Indian pharma has been able to endure the Covid disruption, and is poised to
realize from favourable currency growth and positive outlook for India and US
business. India growth has picked up in pharma sector. Unlike the opposite
industries, the pharmaceutical industry is predicted to determine a positive
impact, on an overall basis.. the case are different with the portfolio and size of
the businesses.
India’s pharma manufactures have a high dependency upon china’s import of
API, procuring around 70 percent from China, the highest global producer and
exporter of APIs .The lockdowns, slowed production of APIs resulted in higher
costs for the materials required for generics production. As per this data, cost of
paracetamol has gone up. Likewise, the costs of vitamins and penicillin have
increased heavily. API (Active Pharmaceutical Ingredient) means the active
ingredient which is contained in medicine.
The Indian government had already mixed up the country’s pharma companies
to extend up the assembly of 38 APIs to finish dependency on China. .
The Indian government recently took steps by proposing an package of 13.76
billion Indian Rupees for the promotion of domestic manufacturing of critical
key starting materials, drug intermediates, APIs and medical devices.
The Indian pharmaceutical industry maintains great advantages in availability of
an oversized labour and advanced technologies that enable high regulatory
standards of markets just like the US and European countries.
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