Indian vaccine maker Bharat Biotech said on Friday the Russia-Ukraine conflict had not impacted the company's supply chains so far.
Unlike several Western companies including McDonald's, Microsoft, Coca-Cola and Starbucks that have stopped sales or operations in Russia, no Indian company has publicly withdrawn from the region.
A few Indian pharmaceutical companies have a presence in Russia, exporting and selling medicines in the country. Sales to Russia between April and December last year reached $386 million, or 15% of the total exports to the country.
Dr Reddy's Laboratories said on Wednesday it was focused on business continuity in and around Russia, while executives from Torrent Pharma and Zydus Lifesciences said they saw little or no sales impact due to the conflict.
Production of Bharat Biotech's homegrown COVID-19 vaccine Covaxin "has been fully indigenised, all (active pharmaceutical ingredients) and critical raw materials are manufactured within India," the company said in an emailed statement.
"This was always a strategic decision at Bharat Biotech to develop and commercialise technologies developed within India and to reduce dependence on external sources," it added.
Bharat Biotech's COVID-19 shot Covaxin has accounted for 16.5% of the nearly 1.80 billion vaccine doses that have been administered to the Indian population so far.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU