During the second wave of the COVID-19 pandemic, India witnessed a sudden rise in demand of the antiviral drug injection Remdesivir. The Indian pharmaceutical sector came forward to rescue the pandemic-struck country, with millions seeking sources for the drug over the internet. As a result, the pharma companies scaled up the production and distribution of the injections to the best of its abilities. Cipla, headed by Umang Vohra, Dr Reddy’s by G.V. Prasad and Parmjit Arora’s Health Biotech, played a significant role in this operation.
Parmjit Arora’s Remdesivir mission was applauded nationwide for providing the drug in high volumes during the crisis. The Health Biotech Director believes that the crisis was a call to action. With the determination of medical professionals clubbed with a dedicated stream of employees, his company carried out the task with exceptional efficiency. He gives the credit for this operation to his firm’s diverse infrastructure and the never dying spirit of his employees.
India and Its Pharma Industry after COVID
Looking at the hardships that India and Indian citizens faced during the pandemic, the government has been putting much thought into its medical care infrastructure and the entire healthcare sector. Indian finance minister Nirmala Sitaraman in her budget address for FY 2023-24, presented a new research and development program through centres of excellence, which will result in inspiring and giving a push to the research and development of the country’s pharmaceutical sector. In addition, the Indian government is forming a critical alliance with pharma companies to achieve more preparedness and curate an efficient system in case of a repetition of a significant health crisis in the future.
Following Health Biotech’s Remdesivir mission, the Indian pharmaceutical once gained proved its capabilities when Syria and Turkey faced adverse situations due to earthquakes of massive magnitudes. As a result, the government initiated “Operation Dost” to counter the crisis, sending medications and supplies to both countries and medical care personnel to carry out the operation.
The Global Need of Indian Pharma Sector
India’s helpful initiatives led to it becoming the most critical asset of Remdesivir and COVID vaccines globally. As an after-effect, the Indian pharmaceutical sector was praised and appreciated for its contribution to preserving humanity and hailed as the “Pharmacy of The World”. In addition, India’s pharmaceutical industry is making strides in expanding capital and volumetric enhancement. However, amid the hike in prices of raw materials for medicines, the sector has maintained its nature of growth worldwide.
The Indian Pharma industry is doing exceptionally well on the business front with an evaluation of over $50 Billion, statistically expected to achieve $130 billion by 2040. Furthermore, the country has earned a reputation by providing pharmaceutical and medical care equipment at lower prices and in higher volumes. India’s concept of “One Earth, One Health” has been justified by the country’s policies and schemes, which serve to achieve the peak of quality drug development while maintaining the production rate. The world has acknowledged the need and importance of the Indian pharma sector time and again, and India has never disappointed humanity.