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Government lifts export restrictions on HCQ APIs, formulations

DGFT to issue a formal notification

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The government has lifted export restrictions on active pharmaceutical ingredients (API) and formulations of hydroxychloroquine (HCQ).

Informing about this decision, Sadananda Gowda, Minister of Chemicals and Fertilisers tweeted, “Department of Pharmaceuticals has approved the lifting of ban on export of hydroxychloroquine APIs as well as formulations. Manufacturers except SEZ/EOU Units have to supply 20 per cent production in the domestic market. DGFT has been asked to issue formal notification in this regard.”

Many people commented on this tweet, some appreciated the move while some others expressed concerns over the increasing price of HCQ APIs and its impact on finished formulations.

Sahil Munjal, Vice Chairman, Pharmexcil said, “We welcome the move, it is good news for hydroxychloroquine exporters and manufacturers. With this move, the industry also expects stability in the API prices of hydroxychloroquine.”

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