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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  World Co., Ltd.    3612   JP3990210001

WORLD CO., LTD.

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India allows limited exports of anti-malaria drug after Trump warns of retaliation

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04/07/2020 | 02:47am EDT

India, the world's main supplier of generic drugs, said on Tuesday it will allow limited exports of the anti-malaria drug hydroxychloroquine that U.S. President Donald Trump has touted as a potential weapon in the fight against the coronavirus.

The Indian government had put a hold on exports of hydroxychloroquine as well as on the pain reliever, paracetamol, saying stocks were depleting because of the hit to global supply chains after the coronavirus emerged in China late last year.

But Trump spoke to Prime Minister Narendra Modi over the weekend seeking supplies and on Monday said India may face retaliation if it didn't withdraw the ban on exports.

India's neighbours, including Nepal, have also sought the anti-malaria drug.

"It has been decided that India would licence paracetamol and HCQ in appropriate quantities to all our neighbouring countries who are dependent on our capabilities," said Indian foreign ministry spokesman Anurag Srivastava.

"We will also be supplying these essential drugs to some nations who have been particularly badly affected by the pandemic," he said.

Use of hydroxychloroquine has soared as the United States has quickly become the epicentre of the pandemic, though doctors prescribing it have no idea whether it works.

U.S. fatalities from COVID-19, the respiratory disease caused by the virus, hit 10,902 on Monday, rapidly closing in on Italy and Spain, the countries with the greatest loss of life to date, according to a Reuters tally of official data.

In addition, the Indian government said it was lifting curbs on the export of 24 pharmaceutical ingredients and medicines made from them that includes several antibiotics, such as tinidazole and erythromycin, the hormone progesterone and Vitamin B12.

"After having confirmed the availability of medicines for all possible contingencies currently envisaged, these restrictions have been largely lifted, " foreign ministry spokesman Srivastava said.

(Reporter Neha Dasgupta; Editing by Neil Fullick and Raju Gopalakrishnan)

By Neha Dasgupta and Sanjeev Miglani

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Financials
Sales 2020 247 B 2 291 M 2 291 M
Net income 2020 11 050 M 103 M 103 M
Net Debt 2020 74 933 M 696 M 696 M
P/E ratio 2020 4,72x
Yield 2020 3,38%
Capitalization 52 221 M 485 M 485 M
EV / Sales 2019
EV / Sales 2020 0,52x
Nbr of Employees 10 088
Free-Float 70,4%
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Mean consensus BUY
Number of Analysts 2
Average target price 2 950,00 JPY
Last Close Price 1 567,00 JPY
Spread / Highest target 155%
Spread / Average Target 88,3%
Spread / Lowest Target 21,3%
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Managers
NameTitle
Kenji Kamiyama Executive President & Representative Director
Hidezo Terai Chairman
Satoshi Tomii Outside Director
Teiichi Takatsuki Director
Hitoshi Hatazaki Director
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