Panic Buying And Its Impact On UK’s Pharma Market

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Does not matter the type of the drug whether it is prescription medicine or it is to be sale out over the counter, there is sufficient medicines in the market. People are getting panic just out their varied insecurities regarding duration of Lockdown, contaminated ambience due to corona virus and their inability to get the medicines during Lockdown in the UK Market.

Does not matter the type of the drug whether it is prescription medicine or it is to be sale out over the counter, there is sufficient medicines in the market. People are getting panic just out their varied insecurities regarding duration of Lockdown, contaminated ambience due to corona virus and their inability to get the medicines during Lockdown in the UK Market. However, there is yet no report by the European medicines regulators about the shortage of medicines due to the outbreak.

The supply of standard grocery is undoubtedly in great demand during corona virus. But the panic buying of medicines has led to great demand of medicines as well, in the UK Market. People have already foresighted that the situations are not going to be better earlier so stockpiling is the obvious left option with them. However, if we discuss about the panic buying of drugs is surely not a wise act.

The outbreak of the pandemic COVID-19 caused by the different strains of corona virus has impacted drastically in the Pharma World. Ranging from Analgesics like Paracetamol or Non- steroidal anti-inflammatory drug like Aspirin to the drugs taken for underlying health conditions like Heart, Asthma Diabetes medication have been affected severely. Finally, panic buying in the UK has efflux the demand for medicines directly linked to the upper respiratory system and the symptoms of COVID-19 including Cough, Fever, Joint Pains, Diarrhoea etc.

Despite of economy down, UK Pharmaceutical market grew in march reflected that consumers have started stockpiling of essential medicines ahead of shutdown said, Organization for Economic Cooperation and Development (OECD).

Pharmaceutical Market belongs to Ministry of Health, Manufacturers, Pharmacy Professionals, Wholesale Pharmaceuticals, Marketers, Traders, Doctors, and Consumers etc. Panic buying has affected each of them directly or indirectly in different ways. All have kept their work on the toe during Corona virus Pandemic. They didn’t bother about the work life balance and have proven surely as Corona Warriors.

UK’s Pharmaceutical Market is affected specially because of China. China is a key player in the manufacturing of Active Pharmaceutical Ingredients, likewise, Zhejiang Hisun Pharmaceutical Co. Ltd., being on top fulfils API needs all over the world including UK. These are then sent to different countries for further assembling, packaging or branding. However, when the novel Corona virus apparently came out in China it shut down their pharmaceutical manufacturing units in no time, it not just impacted medicine supply chain in China significantly, but adversely affected units in UK as well as in other nations.

Since china has now enabled itself to manage Covid19 crisis there, so the companies overseas are now ready to retain their businesses and start off again with full capacity however contract manufacturing organizations (CMOs) in UK are still waiting for unveiling of lockdown by Govt. authorities there due to which they are forced to shut their businesses which will further affect their production as well as smooth flow of trade.

Pharmaceutical supply chains are facing two considerable hurdles in its supply nexus which are barricading its mushrooming market in the period of just last four months like Shortage of labours, Shortage of Pharmacy staff to the UK market and inability to fulfil API demand by sourced countries like china.

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