11-Apr-2020 | Market Research Store
A pharmaceutical firm owned by an Indian American has promised to donate 3.5 million hydroxychloroquine sulfate tablets in the states were COVID-19 is in its full rage, which includes New York and Louisiana. Their contribution in joining this war against coronavirus which by Tuesday has claimed 12,800 people’s lives in the US by now.
New Jersey-based firm, Amneal Pharmaceuticals, which is owned by the billionaire Chirag and Chintu Patel is one of the largest manufacturers in the US. They have also taken the initiative to increase the production of hydroxychloroquine sulfate in many of their manufacturing sites. They plan to manufacture approximately 20 million tablets from now onwards to mid-April.
The company has planned that the tablets that will be manufactured in this duration will be sold all over the country via Amneal’s existing wholesale and retail customers along with direct sales to the organization in need.
Amneal has donated one million 200mg hydroxychloroquine sulfate tablets to Texas and two million to New York were the situation is worse. These tablets are being used for the treatment of COVID-19 patients.
The company has claimed that they are ready to provide more as and when needed. They are also offering products to country-based hospitals directly. 400,000 tablets of hydroxychloroquine sulfate will also be donated to Louisiana said the company.
In 1946, hydroxychloroquine sulfate was first synthesized and was used for the prevention and treatment of malaria. Hydroxychloroquine sulfate tablets are approved by the FDA for the treatment of malaria but as such now, it lacks approval for the treatment of COVID-19. But the tablets are being considered as a possible way for COVID-19 treatment.
It is thus predicted that during the forecast period the demand for hydroxychloroquine market will increase at a rapid rate. It is anticipated that many new market players will invest in this business.