What’s Coronavirus Got To Do With Your Paracetamol?
Your paracetamol just got 40% more expensive.
The coronavirus outbreak has left global supply chains of many key industries disrupted - pharmaceuticals being one of them.
Even as China tries to control the spread of COVID 19, which has killed more than 1800 so far, the disruptions are being prolonged. Factories are shut, there's a restriction of movement of people and raw materials.
FIT spoke to J Jayaseelan, Joint Secretary, Indian Drugs Manufacturing Association, who told us that though there will be no shortage of drugs in the market, the prices will temporarily increase.
He also told us that besides the painkiller, prices of multivitamins, and a few antibiotics could also increase by 20 - 30%.
According a Bloomberg report, the cost of azithromycin, a common drug used to treat bacterial infections, has also increased by 70%.
The shortages could last up to April if the situation is not fixed until the first week of March.
India depends heavily on China for active pharmaceutical ingredients, the key ingredient in medicine. Almost 80% of API ingredients come from China. This hit in supply chain is also likely to affect prices of drugs in other countries, as India is the largest supplier of generic drugs to the world.
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