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Pharmaceutical focus: Could Covid-19 collaboration change the future of the industry?

Discussion in 'Business News & Resources' started by Currencies Direct, Apr 23, 2020.

Are you in the health care industry?

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  1. Currencies Direct

    Currencies Direct

    Joined:
    Feb 6, 2020
    Messages:
    57
    Pharmaceutical focus: Could Covid-19 collaboration change the future of the industry?

    Many industries are facing new challenges as a result of the coronavirus crisis – with the pharmaceutical sector being one of the most obviously affected.

    But how is the sector responding to these unprecedented times? And could steps being taken right now change the pharmaceutical industry forever?

    Can pharma companies avoid Covid-19 medicine supply shortages?

    Accelerating manufacturing output and maintaining supply chains to prevent a shortage of medical equipment has been a prevailing concern over the last few months.

    The pharmaceutical industry relies heavily on China’s production of active pharmaceutical ingredient (API), with the nation being the world’s largest producer. Obviously, China’s factory closures caused concern for companies producing generic and branded drugs and medicines.

    India, for example, imports 70% of API from China and is the world’s biggest supplier of generic medicine.

    However, the impact of this hasn’t been as profound as initially feared and, for now, contingency plans appear to be holding up. The improving situation is also providing cause for optimism.

    The Association of the British Pharmaceutical Industry (ABPI) doesn’t report ‘any concerns about shortages of medicines that relate to the loss of manufacturing capacity as a result of COVID–19 restrictions.’https://www.currenciesdirect.com/en...maceutical-focus-could-covid-19-collaboration


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