Pharmaceutical & Biotechnology is the science of harnessing and tapping into the power of the processes that take place in cells, molecules, and micro-organisms. The concept is applied to create and improve food products, medicines and technologies to boost a healthy lifestyle. Scientists around the world have been harnessing them for several decades. The Pharma & biotechnology industry is aimed at improving the quality of life on the planet. The biotechnology companies make use of a living medium such as already existing plant cells, molecules, and micro-organisms. The companies alter the DNA sequences and come up with new medicines, treatments, therapies for a wide spectrum of ailments, diseases, disorders, and more. Biotech firms have revolutionalized the health care sector in providing relief and cure for several chronic ailments that include cancer, AIDS, Alzheimer’s, heart ailments and even diabetes. This is possible with the laborious research and studies that the biotech companies undertake.
Covid -19 Impact of Pharma & Biotech companies
The Pharmaceutical & biotechnological industry in India is one of the largest in the world. It manufacturers and supplies nearly 60 percent of the medicines that are distributed to various countries across the world. Pharmaceutical companies based in India are the majority suppliers of vaccinations for Tetanus, Diphtheria, Malaria, Typhoid, measles and more. The drugs are available at affordable rates and can be easily accessed by everyone, even those located at the far-flung areas of the world.
The pharmaceutical industry has been hit with COVID – 19 as the manufacturers depend on supplies and active pharmaceutical ingredients sourced from other countries. The pandemic has disrupted the supply chains, import of active pharmaceutical ingredients, and export of finished medical products. Restrictions on the free movement of the pharmaceutical supplies, manpower shortages, and the quarantine policies of the government have left the companies handicapped. It has also affected the logistic and transportation systems, curbing movement at the ports.
China is home to some of the largest manufacturing plants. The extended lockdowns in both China and India have led to a decline in medicine manufacture and productions. Clinical trials, researches, and long-term studies of various diseases and health conditions have been put on hold. The pharmaceutical companies are learning to embrace technology in carrying out virtual trials and agile methods to assist the medical community during these crucial times.
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