FIIs dump Indian stocks for 10th straight week as markets slide: Is the worst over or more pain ahead?
The Nifty 50 declined in all four sessions of the holiday-shortened week, hitting an intraweek low of 22,372 on Friday before closing 2.4% lower at 22,600. The Bank Nifty fell 2.8%, while the Nifty Midcap 100 and Nifty Smallcap 100 plunged 5.6% and 7.3%, respectively, as selling pressure intensified beyond frontline stocks.
A new study reveals that China is closing the gap with India in the African market for antimalarial drugs, with Chinese exports matching India's in 2022. In 12 of the hardest-hit countries, Chinese exports reached $89.3 million, nearly equal to India's $89.6 million. This shift in dominance could lead to more choices for countries with high malaria rates and potentially lower prices.
However, concerns arise about product dependence and the future of local antimalarial research and development as these two giants compete on price. China's pharmaceutical manufacturing strength, competitive pricing, and expertise in artemisinin-based drugs give it an edge. India remains a major supplier of generic medicines and vaccines, but Chinese factories produce most of the key medicines purchased by the Global Fund.
While Indian factories make a significant portion of artemether-lumefantrine, the largest category of medicines covered by the study, Chinese factories dominate SPAQ co-blisters, injectable artesunate, and dihydroartemisinin–piperaquine. The study highlights the need for both countries to invest in African production, technology transfer, workforce development, and regulatory capacity to ensure supply security and quality standards.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
