India lifts ban on export of paracetamol API

On Thursday, Directorate General of Foreign Trade (DGFT) declared in a statement that the Government of India has now lifted the restriction on active pharmaceutical ingredient (API) exports of paracetamol with immediate effect. Earlier, a restriction on the exports of API and medicines had been imposed by the government on March 03, 2020 due to COVID-19 outbreak.

Accordingly, companies can now export the API. In the previous month, India had permitted exports of formulations of paracetamol, also known as acetaminophen, but maintained restrictions on exports of API of paracetamol.

Granules, which is among the leading companies exporting Paracetamol API, is one of the key beneficiaries of this new development.

In today's trading session, BSE Healthcare index was trading on a positive note. The index which opened at 15,314.93 rose nearly 1.7 per cent to touch an intraday high of 15,561.9. The biggest leader in this index is Solara Active which rallied by almost 10 per cent.