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Pharma manufacturing companies across the globe are heavily dependent on active pharmaceutical ingredients (APIs) from China. APIs are included in numerous lifesaving drugs, making coronavirus a real threat not only for the commercial world but also for patients around the globe. According to pharma industry experts at Infiniti Research, some of the implications of this crisis on the global pharmaceutical supply chain would include:
- Although supply chain disruptions have not yet manifested as most companies keep API buffers, there are chances that due to the present situation inventories might run low shortly. This could have adverse effects on countries including the US, India, Germany, Netherlands, and Brazil which are the largest importers of drugs from China.
- The FDA in the US reports that bottlenecks in the drug supply chain will lead to a shortage of over 100 prescription drugs.
- Indian authorities claim that there is already a rise of over 20% in the price of APIs due to a shortage of essential drugs.
- As India accounts for nearly 20% of the global pharmaceuticals production in terms of volume, chances of supply chain disruptions to spill over to the rest of the world are highly likely.
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Several major pharmaceutical companies around the globe remain optimistic in their efforts to support drug development for the novel coronavirus. Some of them are even collaborating with other biopharmaceutical companies to produce a COVID-19 vaccine. But there is still immense scope for drug research and testing that remains unexplored. Infiniti’s team of industry experts use a proven methodology that leverages our proprietary forecast models, have access to high-quality internal and external published content, and information gained from primary research interviews. With over 15+ years of expertise, we have developed a strong network of key opinion leaders and subject matter experts who partner with us to develop futuristic insights. For more insights on how we can help with your research and drug development efforts, get in touch with us.