Bhopal: Amidst the Coronavirus outbreak in China, the prices of medicines could rise by up to 20-40 percent here. The government hospitals have stock for next three months so there will be no impact there, however, the prices of medicine in retail market is all set to see a sharp rise.
Indian pharma companies procure nearly 70 per cent of the active pharmaceutical ingredients for their medicines from China. Amid coronavirus outbreak in China, the import of pharmaceutical ingredients, medicines and surgical material has been completely banned.
Currently the stock manufactured in January-February are in the market and in coming months the same will be available at 20-40 per cent higher rate to public owing to decline in supply from China. Even surgical material will not be available in market, once the existing stock is exhausted, as their import is totally banned.
Right now, Madhya Pradesh Public Health Services Corporation Limited (MPPHSCL), which supply medicines in government hospitals, has stock for three months. The MPPHSCL signs contract with pharmaceutical companies for two to three years fixing the rates and always has three months stocks of medicines and accessories.
MPPHSCL CGM (T) Rahul Jaiswal said nearly 70 per cent raw material for manufacturing medicines, is supplied from China. If crisis extends for another three months, it will be definitely problematic for government in managing the medicines stocks in hospitals, he added.
“Currently, we have stock of three months and we sign contract with pharmaceutical companies for two to three years for rates.
So even if there is crisis, pharmaceutical companies will supply at same rate as they maintain stock of raw material as per our order of demands. So they have sufficient stock of raw material supplied from China. Nearly 70 per cent APIs (active pharma ingredients), is supplied from China,” informed Jaiswal.
Shankar Medical Store’s Kailash (10 no market) said, “Currently we have old stock so the prices have not changed, however when the fresh stock in March comes, the prices of medicines would definitely be on higher side by 20-40 per cent.
Prices of paracetamol, the most commonly used analgesic, will be increased by 20 per cent. Similarly, medicines for sugar patients will be higher by 30 per cent to 40 per cent. Surgical material which is in stock, if exhausted, material will not be available in market.”