Sandoz commits to keep prices of essential medicines stable amidst coronavirus fear

Germany: Sandoz the provider of off-patent antibiotic medicines worldwide, made a public commitment to ensure stable pricing for a basket of essential medicines the company markets, which may help to treat coronavirus patients, amid growing concerns about the potential impact of the coronavirus outbreak on global supply chains.

Richard Saynor, Sandoz CEO, says: "I am very concerned about reports that prices for basic medicines such as painkillers and antibiotics are rising substantially as a result of a tightening supply situation for active pharmaceutical ingredients out of China.

"While I continue to believe that we need a coordinated and long-term approach to address the complex and interconnected issues of pricing, supply and quality, I also strongly feel the generics industry has a particular responsibility right now to ensure that patients can get the medicines they need.

"That's why, with immediate effect, and despite current uncertainties about how the supply situation will evolve, Sandoz is committing as an initial response to keep prices stable for certain essential medicines it markets commercially, which may help in the treatment of coronavirus cases, specifically antivirals to reduce the impact of coronavirus and antibiotics to combat pneumonia." 

Medical Dialogues recently reported that in the light of coronavirus outbreak the apex drug price regulator National Pharmaceutical Pricing Authority (NPPA) has written to all the states and union territories asking them to ensure that there is no shortage of drugs and APIs in their areas due to black marketing and hoarding.

National Pharmaceutical Pricing Authority (NPPA) Chairman Shubhra Singh has recently written to the chief secretaries of all States and Union Territories to monitor the availability of APIs and drugs in the context of the outbreak of COVID-19 in China. WHO has since declared the situation as Global Health emergency.

Read also: Ensure That There Is No Hoarding, Blackmarketing Of Medicines: NPPA Chief Tells States On Covid-19 Outbreak