API as a sector has been a neglected space within the Indian pharma, with India’s share of imports from China increasing consistently from ~60% in 2012 to currently ~67% in 2020. Understandably, the pandemic was a rude shock for most of the formulation players in early March with impending supply chain disruptions, given the overreliance on one country for many critical APIs and intermediates. While thankfully no major supply disruption happened last year, reliability of the supply chain needs to be safeguarded going forward, to be prepared for future shocks, including those that may be geopolitical in nature.
BUILDING UNICORNS IN PHARMA API SPACE TO MAKE INDIA ATMA NIRBHAR
