EPIDEMIC OF COVID-19 AND SUPPORT OF INDIAN PHARMACEUTICAL INDUSTRY IN AFRICA

EPIDEMIC OF COVID-19 AND SUPPORT OF INDIAN PHARMACEUTICAL INDUSTRY IN AFRICA

- SURESH KUMAR AND RAJ KUMAR

Introduction

COVID-19 or commonly known as Coronavirushas spread in most of the parts of the Africa continent. As a result, more than 10,000 people have already been infected across the continent and more than 500 people have already died. South Africa, the most industrialized economy in the continent has1749 cases of Corona, followed by Egypt (1450), Algeria (1468), Morocco (1184) and others (Hindustan Times, Delhi, 10 April 2020: emphasis mine). The World Bank fears that Coronavirus outbreak is going to push Sub-Saharan Africa into recession, this year, for the first time in 25 years. The damage done so far across Africa needs affirmative support of the pharmaceutical industry and the continent is looking towards India being an all-time supporter. India is one of the leading exporters of generic drugs across the world and supplies up to 50 percent of the United States’ generic drug needs.

This epidemic has disrupted the supply chains of the global pharmaceutical industry and gives a good opportunity to India to reassess dependencies and plan for the future global market demands. Government of India investment policy claims India ranks third in the worldwide for pharmaceutical production by volume and 13th by value (www. investmentindia.gov.in/sectors/pharmaceuticals: 10 April 2020). Indian pharmaceutical products are known for their affordable lower price in the world and attract heavy demands in the global market. India is known as the pharmacy of the world by its best products having cheaper prices for the end-user in the global market.