Coronavirus epidemic raises drug prices

Coronavirus epidemic has led to an increase in drug prices. Moreover, there may be a global shortage of some important drugs.

Thus India has restricted exports of 26 ingredients and the medicines made from them, BBC reported.

The list includes several antibiotics, such as tinidazole and erythromycin, the hormone progesterone and Vitamin B12. India relies on China for almost 70% of the active ingredients in their medicines. Industry experts have warned they may face shortages if the epidemic continues.

"There are already signs that the reduction in supply to India has pushed up prices there considerably,” Oxford Economics' lead economist Stephen Foreman told the BBC.