Europe 'panicking' over India's pharmaceutical export curbs - industry group [Reuters]
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Source: Reuters
Europe 'panicking' over India's pharmaceutical export curbs - industry group NEW DELHI (Reuters) - 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. India, the world’s main supplier of generic drugs, has restricted the export of 26 active pharmaceutical ingredients (APIs) and the medicines made from them, in a move seen aimed at tackling possible domestic shortages of medicine during the outbreak. On Wednesday, Dinesh Dua, chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), told Reuters that some of the restricted APIs and medicines were widely exported to Europe and the United States. “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 sai
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