The price of many pharmaceutical ingredients has spiked for Indian drugmakers following panic buying and Chinese raw material shortages caused by the coronavirus lockdown.
The price of azithromycin and other mainstream antibiotics has risen 50 per cent since the outbreak became public in January, said Rahul Soni, chief executive of Overseas Healthcare, a drug manufacturer based in the northern Indian city of Jalandhar.
“When this virus wasn’t there, the rate we got from [importers] was Rs7,300 ($102) per kg. Today it is Rs10,500 per kg. Prices are extremely high. It’s a big problem,” said Mr Soni.
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