How COVID-19 is affecting the pharma franchise business in India

1. How COVID-19 is affecting the pharma franchise business in India During these unprecedented times, pharma franchise companies are responding to the fast challenges posed by supply chains disruption and the need to change business processes. If the current COVID-19 pandemic lasts for a medium / long span of time, it can affect the supply of active material and ingredients (mainly from China), as well as pharmaceutical imports and exports. There is also the potential for negative impacts on R&D and manufacturing activities of a medium- and longer-term nature as well as delays on projects / programs not related to the core supply chain / data management operations. Although the full impact of the global pandemic is still unknown, pharmaceutical companies need to react, recover and thrive. Indian pharmaceutical companies, well-known for producing affordable low-cost medicines, will play a major role in the global fight against the coronavirus pandemic that has affected more than 2.5 million people worldwide, India's top diplomat said here. India's Ambassador to the US, Taranjit Singh Sandhu also stressed that India and the US are prepared to face this public health crisis together as global strategic partners. Pandemic COVID-19 affects industries around the globe. The outbreak of coronavirus has begun to hit India's pharmaceutical sector by increasing the prices of key ingredients. Now prices for vitamins and penicillin are double or triple the price. The cost of paracetamol has similarly increased. Another major impact is that Pharma companies in India are facing disruptions due to prolonged closures of factories in China. If the pandemic continues then pharmaceutical stockpiles, APIs and other chemicals may decrease, resulting in shortages. The government should take appropriate steps to keep the situation in check. Rising price of drugs India's producers rely heavily on Chinese imports of their APIs. Slow production of APIs resulted in less availability and higher costs for the materials required for generic production as a result of lockdowns and closures. The cost of paracetamol has increased from Rs 250-300 kg to 400- 450 kg according to current data. Likewise, the prices of vitamins and penicillin have also greatly increased.

2. Lack of supply of active pharmaceutical ingredients or finished drug products from China which is the reason pharma franchises in India should start thinking of an alternative route Because of extended factory closures in China, the pharmaceutical companies face disruptions. China, where many factories have temporarily shut down due to fears about coronavirus, accounts for a majority of the raw ingredients used to produce finished drugs. In the case of a prolonged lockdown in China, 57 APIs of crucial antibiotics, vitamins, and hormones or steroids could go out of stock, according to latest data compiled by India's drug regulatory authority. COVID-19 outbreak also causes potential disruptions to supply or shortages of critical medicinal products. Disruptions to the supply chain could be truly serious for our drug access. Inter State Transport Challenges: Government exempted private laboratories from the lockdown to ensure that there were no hurdles to the movement of laboratory technicians and the transport of samples, along with the opening of temporary collection centers. To overcome the movement of interstate transport, truck drivers will have to produce the electronic transit bill issued by the GST Network or the easy transit bill. As the novel coronavirus continues to spread across countries, concern has intensified over the potential for disruption in the manufacture and distribution of pharmaceutical products. The government is recommending measures and steps to keep control of the situation. The government is contemplating ways of encouraging pharma companies for domestic production of APIs by creating an appropriate ecosystem in the country. The FDA is working with the domestic manufacturer as to mitigate the shortage. The FDA is attempting to ensure that no shortages are identified for products that cannot be replaced by others. The government has restricted the sale and distribution of hydroxychloroquine by stating it as an essential drug to meet any emergency requirements due to COVID-19 pandemic. As in laboratory studies and in-vivo studies Hydroxychloroquine is found to be effective against coronavirus. Its use in prophylaxis is derived from the evidence of benefit available as treatment and backed by preclinical data. India is the hub of the pharmaceutical sector and here there are many pharmaceutical franchise firms dealing with medicines and offering PCD Pharma Franchise deals. Investing in a Pharma franchise business has many advantages. This business is packed with opportunities for career seekers and pharmaceutical professionals. That is a business with low investment. Pharma Franchise in India is monopoly rights-based and Monopoly right is one of the most important marketing strategies that people usually use with the intention of covering up the wide market and ensuring trouble-free exposure without confronting people's competition.