The global market for active pharmaceutical ingredients (APIs) continues to grow. Up until now, the lion’s share of API procurement has been conducted by negotiations with suppliers through traditional channels such as trade shows, face-to-face meetings, telephone and e-mails.
However, with the current coronavirus pandemic continuing to apply pressure on supply chains, and business travel and physical industry events ruled out for the time being, the market is having to reassess how it facilitates trade of these vital raw materials. There have been price volatility spikes in certain APIs and traders are keen to see more transparency in the market to mitigate risk.
In this interview with Global Pharma Insights, Stefan Schmidinger, Partner at Kemiex AG, we discuss how API procurement, marketing and trading units are adapting to a strictly digital environment, and whether there is a pent-up need for more information.