This may hit local manufacturing besides pushing up drug prices as producers may be forced to pass on the higher costs to consumers. "Importers, squeezed by surging raw material costs, are passing the pain directly to big pharma companies," said an industry official. "Data accessed by ET showed prices of some key raw materials have risen by more than 60%. "Pharmaceutical solvents- made from petrochemicals-have surged 20-30% within a week as the Middle East conflict continues to disrupt global oil supply," said Mehul Shah, a pharma industry expert. "Pharma industry being highly price regulated, it is difficult to absorb unprecedented increase in price of inputs," Harish Jain, national president, Federation of Pharma Entrepreneurs.

Source: Economic Times March 11, 2026 02:56 UTC