Pharma raw material shortage pushing India to regulate bulk drug prices

A sharp rise in the price of raw material of key drugs used in the treatment of COVID-19, as well as other active pharmaceutical ingredients (API) over the last few weeks, has unnerved Indian drug manufacturers.

As India battles its second Covid wave, and the cost of APIs has trebled due to the ban on international cargo flights and delayed clearance by China, the government is looking to revive its plan to set up an API-monitoring cell for regulating the prices of bulk drugs, reports The Pharma Letter’s India correspondent.

The absence of a monitoring body is being spoken about in hushed tones across the drug sector, especially since the industry has been facing price rise of anywhere from 20% to 700% in APIs imported from China over the last few months. A severe shortage of antibiotics, key steroids, anti-fungal drugs, and even vitamins has got the government in an overdrive, indicate sources.