India relies on China for 90 per cent of drug raw materials – The Economic Times

“A glimpse of just what could go wrong was evident during Beijing Olympics 2008, when China closed down many of its API plants to cut environmental pollution. “This led to an immediate price rise of around 20% in some bulk drugs which were being sourced solely from China. We had no alternative since China has a near monopoly in several APIs,” said Ramesh Adige, a pharma expert who was formerly an executive director with Ranbaxy Labs.”

From – The Economic Times