As continuous surge in number of Covid-19 cases is being reported from across the country, people have resorted to panic buying and started hoarding basic medicines required for the treatment. The demand for basic medicines has grown multi-fold recently due to fear of its possible shortage in days to come.
While most manufacturers are working towards building up inventory for these essential drugs that could last for three to six months, the fact remains that they are comprising with their profit margins as rates of active pharmaceutical ingredients (APIs) like paracetamol, ivermectin, doxycycline, azithromycin, maropenem 1 gm and others have increased up to 300 per cent.
The ingredients for ivermectin has seen a price surge from Rs 17,000 per kg in February to Rs 58,000 per kg today. APIs for azithromycin has increased by Rs 3,500 per kg as compared to its price in February and the price of active ingredients for doxycycline has doubled forcing manufacturers to shell out more Rs 6,000 per kg, currently.