NITI Ayog to hold emergency meeting on Feb 19 with drug industry to discuss API supply
Alarmed by the coronavirus outbreak leading to lock downs in China resulting in stoppage of active pharmaceutical ingredients' (API) supply to India, NITI Ayog has called a meeting of representatives of drug industry on February 19 to take stock of excessive dependence of the country on China for APIs and key intermediates supply and plan to develop API parks in the country. In 2018-19, India imported bulk drugs and intermediates worth US$ 2.4 billion from China. In 2017-18 the import of bulk drugs and intermediates from China to India stood at US$ 2,055.94 million. At present, domestic drug makers have an inventory for a couple of months and pharmaceutical companies in Chinese regions mildly affected by coronavirus have resumed operation, except Wuhan region, the epicenter of coronavirus outbreak. The panic triggered by the spread of the coronavirus and extended shutdown in China have led to a steep rise in prices of several critical APIs in the country since Janua...