{"id":1859,"date":"2025-01-02T04:45:43","date_gmt":"2025-01-02T04:45:43","guid":{"rendered":"https:\/\/www.venkateshwaragroup.in\/vgiblog\/?p=1859"},"modified":"2023-08-04T06:05:28","modified_gmt":"2023-08-04T06:05:28","slug":"corona-impact-on-pharmaceutical-industry","status":"publish","type":"post","link":"https:\/\/www.venkateshwaragroup.in\/vgiblog\/blog\/corona-impact-on-pharmaceutical-industry\/","title":{"rendered":"Corona impact on Pharmaceutical industry"},"content":{"rendered":"\n

The Corona impact on Indian Pharmaceutical industry is significant because it fostered innovation <\/a>of life-saving drugs.<\/p>\n\n\n\n

In fact Corona pandemic proved to be a blessing in disguise because it instigated development of indigenous vaccines.<\/p>\n\n\n\n

India is already the largest vaccines producer in the world with over 65% vaccines manufactured in the country.<\/p>\n\n\n\n

This proves we have the expertise to manufacture world class products ushering in innovation <\/a>& growth.<\/p>\n\n\n\n

The GOI <\/a>is incentivizing local production of key ingredients because 70% of our active pharmaceutical ingredient (API) come from China.<\/p>\n\n\n\n

This dependency on hostile nations is dangerous because they can scuttle our supply chains in critical times like pandemic.<\/p>\n\n\n\n

Indian pharmaceutical firms have proven their worth by developing Cowaxin because we cannot depend on others for vaccination.<\/p>\n\n\n\n

This catastrophe has encouraged companies to usher in innovation because we lag in new molecule development crucial for innovation.<\/p>\n\n\n\n

Indian Pharmaceutical companies turned this adversity into opportunity by fostering R & D<\/a>, which led to the development of Cowaxin & Zycov\u2013D. India\u2019s indigenously developed Corona vaccine.<\/p>\n\n\n\n

Corona’s impact on Indian Pharmaceutical industry is prominent because firms have realized the importance of innovation.<\/p>\n\n\n\n

Companies hire talent who have expertise in product development because it enables penetrating new markets.<\/p>\n\n\n\n

Firms are expanding their R & D <\/a>because their survival depends on innovating cost effective drugs suitable for all markets.<\/p>\n\n\n\n

More companies have realized the importance of exports because India supplies around 80% of the global anti-AIDS drugs.<\/p>\n\n\n\n

Cipla offers anti-retroviral drugs at 1\/25th of the price which US firms demand from their African clients.<\/p>\n\n\n\n

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