After reporting a loss after tax last year, India’s Indoco has recovered and reported a substantial post-tax profit, as well as operating profit that doubled in its latest financial year, despite battling supply chain issues caused by the coronavirus crisis.

India has removed export restrictions on APIs and formulations imposed by the country in March. However, certain measures have been kept in place to ensure that domestic requirements are met for in-demand products such as hydroxychloroquine and paracetamol.

National export restrictions on medicines have been slammed by the international off-patent pharmaceutical industry as being “counter-productive” during the coronavirus crisis. The IGBA is instead urging international co-operation and transparency, pointing to a positive example of supply-chain connectivity in the Asia-Pacific region.