India is facing the ripple effects of shutdowns in China with production of medicines being hit as supply-chain disruptions drag on amid the ongoing COVID-19 outbreak, reported The Economic Times.
Prices of paracetamol have jumped by 40% in India, while the cost of azithromycin, an antibiotic used for treating a variety of bacterial infections, has risen by 70%, said Pankaj R Patel, chairman of Zydus Cadila.
Patel sees a substantial increase in prices of active pharmaceutical ingredients (APIs) in the short- to medium-term.
India, home to about 12% of all manufacturing sites catering to the US market, relies on China for as much as 80% of its API requirement, according to the news source.
To read more NewsPoints articles, click here.