With states in north India imposing stricter measures to curb intra-state movement after April 20, makers of summer products such as air conditioners, refrigerators, colas, and ice creams are estimating a 25-60 per cent drop in yearly sales.
Mumbai, with an estimated population of nearly 20 million, has been testing 1,200-1,400 people per day. Delay in the delivery of rapid antibody test kits has forced the BMC to restrict its testing net.
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Cadila, Biocon developing rapid antibody testing kits; Eris, Mylan, Gland importing. There are two kinds of testing for the novel coronavirus - the real-time polymerase chain reaction test kit that uses throat or nasal swabs and provides results in a few hours, and the other is antibody-based rapid testing kit that use blood samples and provides results in a few minutes.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
Private diagnostic laboratories have already approached the respective state governments and the municipalities where they are operating to approve protocols for such testing in clusters, reports Sohini Das.
While FMCG companies were not barred from carrying out their operations during the 21-day lockdown, since most manufacture staples and essential products, capacity utilisation remained poor, owing to the restricted movement of raw materials, finished goods, and labour.
Private hospitals, especially smaller standalone ones, are staring at a crisis that they were not prepared for. Analysts say larger corporate chains have to brace up for at least six months for business to return to normal.
Top companies reported that despite most of them making staples and essential products, movement of raw material, goods and labour remained restricted, impacting sales.
According to sources, government officials have asked industry bodies and manufacturers to submit key concerns and requirements to begin manufacturing activity.
What will happen to the job placement and summer internship plans of India's management and IIT students? Many campuses are stepping in to help students hang on to their placements, in spite of the lockdown.
A leading exporter said, there is enough stock of paracetamol in the country. At present, the US, which has become the epicentre of the COVID-19 outbreak, needs paracetamol. He further said India would lose its credibility as the "pharmacy of the world" if it adopts protectionist policies during such a crisis.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
The ICMR has already approved a bunch of rapid test kits for launch. The health ministry admitted that clusters of COVID-19 had appeared in many states and the risk of further spread remains very high.
In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
The test used now, called PCR (or polymerace chain reaction), uses a nasal or throat swab sample and identifies the virus. These tests take at least five hours to give results. The rapid test, on the other hand, uses a blood sample and gives results based on detecting the presence of certain antibodies that react to the coronavirus protein.
Even as most manufacturers are still assessing the overall impact on their businesses, early projections suggest the market may grow at its lowest ever rate, in 2020.
The Central Drugs Standard Control Organisation said while the rights, safety, and well-being of trial subjects were of paramount importance, protocol amendment, deviation or modification might be necessary in some cases owing to unavoidable circumstances.
The situation is severe in North India as most of the logistics operation was manned by migrant labourers from Uttar Pradesh and Bihar. The problem with manpower is not only in courier and delivery services, but also at a shop level.
The ICMR is working on a war footing to develop the testing ecosystem -- especially for the screening blood tests. NIV, Pune, is in the process of validating antibody-based screening kits.
