India lifts export ban on Trump-touted drug hydroxychloroquine

Ipca Laboratories

11/06/2020 07:09

BENGALURU, June 11 (Reuters) - India has lifted an export
ban on hydroxychloroquine, the anti-malarial drug touted by U.S.
President Donald Trump as a potential "game changer" in the
fight against the COVID-19 pandemic, a minister said late on
Wednesday.
    "Department of Pharmaceuticals has approved the lifting of
ban on Export of Hydroxychloroquine API as well as
formulations," India's minister for chemicals and fertilizers,
Sadananda Gowda, said https://twitter.com/DVSadanandGowda/status/1270740514329907202
 on Twitter.
    Manufacturers, except export-oriented units and those in
special economic zones, would still have to supply 20% of their
production to the domestic market, Gowda said.
    The country, a leading exporter of generic medicines across
the world, banned the export of the drug and its formulations in
March as the coronavirus outbreak disrupted supply chains.
 urn:newsml:reuters.com:*:nL4N2BI1AP
    But India eased some of these restrictions in April and
shipped 50 million tablets of the drug to the United States that
month, Reuters reported.  urn:newsml:reuters.com:*:nL3N2CI000
    Trump's championing of hydroxychloroquine had initially
raised expectations for the treatment, but conflicting reports
of its efficacy have added to confusion about the decades-old
drug.
    British scientists last week halted a major trial after it
found that the drug was "useless" at treating COVID-19 patients.
 urn:newsml:reuters.com:*:nL8N2DI42K
    A Lancet medical journal study that found hydroxychloroquine
increased the risk of death in COVID-19 patients was withdrawn a
week after it led to major trials being halted.  urn:newsml:reuters.com:*:nL1N2DH1VA
    Meanwhile, the World Health Organization said it will resume
its trial of the drug for potential use against the novel
coronavirus after those running the study briefly stopped giving
it to new patients over health concerns.  urn:newsml:reuters.com:*:nL8N2DG5FP
    IPCA Laboratories  IPCA.NS  and Cadila Healthcare  CADI.NS 
are two leading Indian manufacturers of the drug. IPCA's shares
were down 1.2%, while Cadila's stock was up 1% in a broader
Mumbai market that was lower on Thursday.  .BO 

 (Reporting by Sachin Ravikumar; editing by Uttaresh.V)
 ((saisachin.r@tr.com; +91 80 6182 2754; Twitter: @sachinr27;))