The National Pharmaceutical Pricing Authority (NPPA) on Thursday assured that there is sufficient stock of raw materials for medicines and formulations available to meet requirements of the situation arising due to the coronavirus outbreak.
NPPA Chairman Shubhra Singh met representatives of pharmaceutical industry associations on the issue of availability of critical active pharmaceutical ingredients (APIs).
"Chairman NPPA met today representatives of the Pharma Associations on the issue of availability of critical APIs. It is assured that sufficient stock of critical APIs and formulations is available to meet the requirements of the situation arising out of COVID-19," the drug pricing authority said in a tweet.
It further said, "Indian Drug Manufacturers' Association (IDMA) has assured NPPA regarding enough stock of APIs and formulations. No shortages in the near future."
On March 3, India, the world's largest maker of generic drugs, had restricted export of common medicines such as paracetamol and 25 other pharmaceutical ingredients and drugs made from them, as it looked to prevent shortages.
Besides over-the-counter painkiller and fever reducer paracetamol, drugs restricted for exports included common antibiotics metronidazole, and those used to treat bacterial and other infections as well as vitamin B1 and B12 ingredients.
A notification by the Directorate General of Foreign Trade (DGFT) said the export of 26 active pharmaceutical ingredients (APIs) and formulations would require licence.
Though India is a source of about 20 per cent of the world's generic drug supply, pharma companies in the country are dependent on China for two-thirds of the chemical components needed to make them.
The outbreak of coronavirus has shut factories in China and impacted supplies, leading to fears of shortage of drugs and medicines.
Disclaimer: No Business Standard Journalist was involved in creation of this content
