{"id":43466,"date":"2023-10-12T12:39:05","date_gmt":"2023-10-12T12:39:05","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43466"},"modified":"2023-10-12T12:39:05","modified_gmt":"2023-10-12T12:39:05","slug":"israel-conflict-unlikely-to-impact-trade-of-pharma-firms","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/business\/israel-conflict-unlikely-to-impact-trade-of-pharma-firms\/","title":{"rendered":"Israel conflict unlikely to impact trade of pharma firms"},"content":{"rendered":"
Indian pharmaceutical firms foresee minimal disruptions in trade with Israel despite escalating regional tensions.<\/p>\n
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Rising crude prices and export shipping insurance premiums have raised concerns, but the pharmaceutical sector remains optimistic.<\/p>\n
Pharmaceutical exports from India to Israel in FY 2020-21 amounted to $32.5 million, which represents only a minor segment of India’s overall pharma exports.<\/p>\n
“India’s expansive export market covers over 200 countries, with Israel being a modest component of it,” noted Gagan Manchanda, Co-founder & CEO of health-tech firm Positive Gems.<\/p>\n
Bilateral merchandise trade between the two nations touched $10 billion in FY 2022-23, with pharmaceutical exports from India accounting for $92 million.<\/p>\n
The Indian embassy in Tel Aviv indicates that India ranks as Israel’s second-largest trade ally in Asia and the seventh-largest worldwide.<\/p>\n
Sun Pharmaceuticals, an Indian pharma giant, holds a 78.48 per cent stake in Israel’s Taro Pharmaceutical Industries.<\/p>\n
Given the conflict, there’s anticipation of potential disruptions in Taro’s functions, as staff might be summoned for military service in the Israeli defence forces.<\/p>\n
However, Sun Pharma has yet to issue any statements on this matter.<\/p>\n
Nikkhil K Masurkar, CEO of Entod Pharmaceuticals, commended the resilience of Israel’s robust and well-regulated pharmaceutical sector, which has demonstrated its stability during previous conflicts.<\/p>\n
“The current turmoil could amplify Israel’s demand for crucial medicines and further cement the pharmaceutical bond between the two nations.<\/p>\n
Simultaneously, India might be poised to cater to a significant rise in pharmaceutical demands from the Palestinian territories,” Masurkar suggested.<\/p>\n
While the industry predicts an increase in medicine demand due to the crisis, it doesn’t anticipate a significant spike in exports.<\/p>\n
A source from the industry conveyed to Business Standard<\/em>, “Israel is self-reliant and will likely receive aid, inclusive of medicines, from other developed nations, so the impact on our markets should be minimal.”<\/p>\n