Coronavirus, new company operations and increased sales... What’s new in business?
Maryam Mahdi | | Quick Read
- The FDA has identified 20 drugs at risk of shortage due to the COVID-19 outbreak. When contacted by the agency, however, none of the manufacturers of these medicines expected to experience a stock deficit. The earmarked drugs’ main ingredients either source all main ingredients from China, or are finished in China.
- Sanofi says it is aiming to become one of the world’s largest API production operations by bringing together six of its API manufacturing sites in Europe and the UK. A spokesperson for the company said that the project would help the company move away from its “heavy reliance on API sourced from the Asian region.”
- The Indian government has imposed a restriction on the export of 26 pharmaceutical ingredients and drugs made in the country, as concern mounts about the potential of the coronavirus outbreak to turn into a pandemic. India sources up to 70 percent of its APIs from China.The APIs and drugs mentioned in a statement issued by Indian authorities this month account for 10 percent of drug products exported by India.
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