The authorities on Thursday lifted the export ban on anti-malarial drug hydroxychloroquine with immediate effect. “The export policy of Hydroxychloroquine API (active pharmaceutical ingredients) and its formulations from prohibited to free with immediate effect,” the Directorate General of Foreign Trade (DGFT) stated in a notification.
The authorities on March 25 had banned the export of the drug, which was touted as a promising drugs within the remedy of COVID-19 pandemic.
Indian Council of Medical Research (ICMR) had additionally beneficial the usage of hydroxychloroquine for treating healthcare employees dealing with suspected or confirmed coronavirus instances and likewise the asymptomatic family contacts of the lab-confirmed instances.
Earlier, US President Donald Trump had described hydroxychloroquine as a “game changer” within the combat in opposition to COVID-19.
Although exports of this drugs was banned, India shipped this anti-malarial drug in sync with its world dedication to deal with the coronavirus pandemic.
India equipped paracetamol and hydroxychloroquine to over 120 nations within the final two months whereas making certain the home provide, as these two medicines are in large demand resulting from COVID-19.
While paracetamol is a ache reliever, hydroxychloroquine is an previous and cheap drug used to deal with malaria. India is the most important producer and exporter of the drug globally.
India manufactures 70 per cent of the world’s provide of hydroxychloroquine. Companies like Zydus Cadila and IPCA are the main producers within the nation, in line with the Indian Pharmaceutical Alliance (IPA).
In the US market, India accounted for about 47 per cent provide of hydroxychloroquine in 2019, in line with Professor at Indian Institute of Foreign Trade (IIFT) Rakesh Mohan Joshi.
In April, Indian Drug Manufacturers’ Association (IDMA) Executive Director Ashok Kumar Madan had acknowledged that India has an annual put in capability of round 40 tonnes of lively pharmaceutical substances (APIs) of hydroxychloroquine.
India exported hydroxychloroquine API value USD 1.22 billion in April-January 2019-20. During the identical interval exports of formulations constituted of hydroxycholoroquine have been at USD 5.50 billion.
(With PTI inputs)