Today Vidya Krishnan of the Hindu decided to write a story. This was a story that apparently caused some random panic among stocks of the pharma variety because OMG THE US GOVERNMENT HAS BANNED INDIAN API IMPORTS! The article started out like this: In a move that will further inflate prices of drugs in the United States — already a burning issue in the current presidential campaign — the U.S. government has made it mandatory for Active Pharmaceutical Ingredients (APIs) to be manufactured locally . At present, nearly 80 per cent of drug raw material requirement is met by India or China. You see why the market has panicked on seeing such a headline? My goodness if all API imports are banned, then that’s pretty much where all Indian pharma companies will die. Vidya Krishnan later defended this article saying it was only about US Government Procurement of drugs, which is a much smaller market, and that it was still a story because hey Nirmala Sitharaman (India’s commerce minister) was ready to take this to a bilateral talk.… (Read On…)
[via Capital Mind]
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