Urging the public not to panic, Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI ) assured that despite the global impact of the corona virus outbreak, there is no shortage in the availability of medicinal drugs in the country.
“All major pharmaceutical importers have sufficient inventory and stocks adequate for the next three months and even further,” SLCPI said in its statement.
Chairperson of the SLCPI, Kasturi Chellaraja said, “Panic buying of medicine as a reaction to coronavirus is absolutely unnecessary, rather it is important to be sensible and judicious when reacting to the current situation.”
“There is currently enough stock to meet three months of normal demand and we will make sure that the supply chain is not disrupted,” she emphasized.
SLCPI’s statement was issued in the wake of reports from pharmaceutical retail suppliers, regarding customers buying as much as two to three months supply of drugs.
Sri Lanka fears of shortage of some common medicinal drugs after India limited the export of certain medicines due to the corona virus and the global short supply of pharmaceuticals.
Drug importers associations have informed local pharmacies countrywide that there will be a shortage of drugs including antibiotics and painkillers within the next few months due to restricted exports by suppliers worldwide.
India the world's biggest supplier of generic drugs has restricted exports of 26 ingredients and the medicines made from them.
The restricted drugs include Paracetamol, one of the world's most widely-used pain relievers.
This was due to many drug ingredient makers in China remain shut or cut output.
India's drug makers rely on China for almost 70% of the active ingredients in their medicines, and industry experts have warned that they are likely to face shortages if the epidemic continues.
Further Sri Lanka drug importers pointed out that their companies are on the verge of collapse due to cash flow problems as the Health Ministry and state pharmaceutical corporation had to pay them a sum of Rs.23 billion as dues for their supply of medicinal drugs.
The list of ingredients and medicines accounts for 10% of all Indian pharmaceutical exports and includes several antibiotics, such as tinidazole and erythromycin, the hormone progesterone and Vitamin B12.
Economists said “There are already signs that the reduction in supply to India has pushed up prices considerably."
(LI)