Hydroxychloroquine is a medicinal drug that is primarily used to treat malaria, systemic lupus erythematosus, rheumatoid arthritis, and Q fever. Currently, hydroxychloroquine and chloroquine, its precursor drug, are under clinical investigation for the treatment of the COVID-19. Hydroxychloroquine sulfate is sold under some of the prominent brand names, including Plaquenil, Hydroquin, Axemal (in India), Dolquine, Quensyl, and Quinoric. China is the leading producer of active pharmaceutical ingredients (API) and other raw materials required for the production of hydroxychloroquine. The U.S. and European countries have relatively low consumption of the drug owing to low or negligible incidences of malaria. However, the outbreak has compelled the countries to import hydroxychloroquine in bulk, especially from India.
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impact of COVID 19
On March 19, 2020, the U.S. FDA announced to work closely with the government agencies and academic research institutions, investigating the use of hydroxychloroquine, to determine the efficacy of the drug for the treatment of COVID 19. After the announcement, hydroxychloroquine has been witnessing a significant surge in demand across the globe. On March 17, 2020, AIFA Scientific-Technical Commission of the Italian Medicines Agency expressed a favorable opinion for the application of drugs as a potential COVID-19 treatment, further driving the market growth.
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