Experts predict curb is likely to impact countries in SE Asia, Latin America and Africa. FMTNews India Pharmaceuticals GenericDrug Exports
NEW DELHI: India’s top pharmaceuticals export group said the government’s curbs on some drug exports amid the spreading coronavirus outbreak has caused panic in Europe and will severely impact businesses in the sector.
“I am getting a huge number of calls from Europe because it is very sizeably dependent on Indian formulations and we control almost 26% of the European formulations in the generic space. So they are panicking,” Dua said. “ would severely impact our members,” said the letter, which urged the government to allow exports of drugs manufactured before the restrictions kicked in.Pharmexcil’s Dua told Reuters there were US$10 million worth of drugs affected by the curbs currently at Indian ports or close to being readied for export.
Out of the 26 listed as “restricted”, 13 APIs are sourced from the Hubei province in China, Dua said.
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