After the violent clash between India and China in the Galvan Valley of Ladakh, tension has increased in both countries.
In this environment, a new problem has arisen in front of India's pharmaceutical companies. Actually, the cost of import of pharmaceutical companies from China has increased in the recent past. Chinese suppliers have increased prices of some medicines in addition to active pharmaceutical ingredients.
Prices rise by about 20 percent
According to Sudarshan Jain, general secretary of the Indian Pharmaceuticals Alliance (IPA), prices have gone up by about 20 percent. According to experts, it is expected to affect the pharmaceutical industry. Another product recently imported from China is paracetamol, which has increased prices.
Meanwhile, Satyanarayana Chawla of Laurus Labs asked to consider the price of isopropyl alcohol (IPA) imported from China. It has seen a 100 percent increase. It plays an important role in disinfectants. He said that "we use about 500 to 600 tonnes of IPA per month". The Indian pharma industry is using around 20,000 to 30,000 tonnes per month.
The Laurus Labs is an important active pharmaceutical ingredients manufacturing firm of India. It sells drug paraphernalia in areas such as anti-retroviral, hepatitis C and oncology in about 56 countries.
At the same time, another product imported from China which has increased significantly is Para Amino Phenol or PAP. This product is useful in making paracetamol medicine. Krishna Prasad Chigurupati, CMD of Granules India, on the increase in its prices, says, "These increases have been around 27 per cent and this is partly because their cost of production has gone up.
He further said that perhaps also because he is the main supplier for this product in the global market, taking advantage of this fact.
In a tweet made on Wednesday by the Prime Minister's Office (PMO), it said, 'Prime Minister Narendra Modi has called an all-party meeting on June 19 at 5 pm to discuss the situation in the India-China border areas. The president of various political parties will participate in this virtual meeting.
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