"Rising oil prices linked to the Iran war are driving up freight rates and the cost of key chemical solvents used in drug manufacturing, increasing the price of producing even basic medicines."
India's pharmaceutical industry, a major supplier of global generic drugs, is under pressure from rising oil prices linked to the Iran war. The sector, valued at $50 billion, provides 20% of global generic drug volumes, with significant exports to the US and EU. The reliance on imported active pharmaceutical ingredients, primarily from China, exacerbates the situation. Increased freight rates and costs of chemical solvents are driving up production costs, affecting the supply chain and leading to price surges in essential medicines like metformin and paracetamol.
Read at www.dw.com
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