Bulk drug prices soar by 25-30% as rupee wilts

Bulk drug prices soar by 25-30% as rupee wilts
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First Published: Sun, Nov 02 2008. 02 32 PM IST
Updated: Sun, Nov 02 2008. 02 32 PM IST
PTI
Mumbai: Prices of bulk drugs have increased by 25-30% over the past few months as declining rupee has hit business margins of the pharmaceutical industry, a top industry official said.
Indian pharmaceutical companies import most of their raw materials and bulk drugs from China.
“Most of the bulk drugs and Active Pharmaceutical Ingredients (APIs) come from China and with the rising dollar, it will affect companies at present and in the quarter to come. Once the companies which have stocks exhaust their supplies, they will have to face this pressure,” Indian Drug Manufacturers Association (IDMA) Secretary General Daara Patel said here.
Prices of albendazole, used in manufacturing a medicine for treatment of a variety of worm infestations, have increased 57% since April-end. It now costs Rs1,650 per 25 kg.
Pentaprazole costs Rs7,400 for five kg, a rise of 64.4%, while the price of Chlorzoxazone USP has increased by 53.8% to Rs600 per 25 kg.
IDMA has urged the government to revise prices of the drugs.
“Unless the government revises the prices fast, there won’t be any immediate recourse for companies. We doubt they will consider a price revision and even if they do, it usually takes three months to come into effect, after a lot of information provided by the companies,” Patel said.
Prices of bulk drugs and APIs have been on the rise since the Beijing Olympics.
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First Published: Sun, Nov 02 2008. 02 32 PM IST