Trucker's strike hit clearing of pharmaceutical raw materials at Chennai port
A large number of import consignments required for pharmaceutical companies in Karnataka, Andhra Pradesh and Tamil Nadu are lying at Chennai port for more than three days as the trucker's strike, which entered into the fourth day on Friday, has left them unattended. Though the exact value of the goods has not been determined, a rough estimate places it at Rs. 200 crore. Pharmaceutical companies in the three states are in dire straits as their production has been hit owing to the non arrival of inputs.
As Chennai being the main port in the south, most pharma companies in the region have chosen this port for import. Export and import of goods of pharmaceutical companies in the three states are mainly done through the Chennai port. On an annual basis, the total value of goods exported and imported meant for the pharmaceutical companies through the Chennai port is pegged at Rs.1400 crore. Most hit are the companies in Karnataka and Andhra Pradesh which have already effected a cut in production.
While on one hand, exports and imports have been hit, on the other the domestic logistics of the companies have also been affected. Consignments meant for distribution to authorized distributors of the respective companies are lying in the companies' godowns waiting to be transported. This has resulted in the distributors not being able to supply to the retail chemists.
Though there has not been any shortage of drugs at retail outlets in Chennai so far, it is argued that the same could happen within a week if the truckers continue their stir.