News Pharma Industry

Israel-Hamas war may singe billion-dollar pharma exports

NEW DELHI: The ongoing war between Israel and Palestine is threatening to disrupt the Indian pharmaceutical industry by hindering exports to several countries in the Middle East and North Africa (MENA) region.

Pharma industry experts estimate that if the war continues beyond two weeks, it is likely to dent the flow of pharma exports to the region, and countries nearby.

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The UAE, Qatar, Saudi Arabia, Egypt, and Bahrain are among countries in the region that are major destinations for Indian pharma products.

“India’s exports amount to a billion dollars per year in these countries,” one of the experts said, asking not to be named. He said a protracted Israeli-Palestinian war would impact flight services to these countries and subsequently hit pharma exports from India.

India supplies paracetamol to injectables and therapies to these countries in bulk. “The entire spectrum of the industry-small, medium and large-scale industry-is going to get impacted if the situation continues,” said an expert at a pharma advocacy group, requesting anonymity.

While pharma companies in the region tend to maintain buffer stocks, with many having at least for the next few days, their operations may get affected if the conflict continues. “While there are no major exports to the Gaza Strip, and Israel being self-sufficient with the presence of leading pharmaceutical companies like Taro and Teva, the MENA region may get severely impacted due to the war,” said another expert.Some companies said they are in touch with firms in these regions.

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