The prices of key pharmaceutical ingredients could rise if the coronavirus situation in China does not improve soon, a top company official said on Tuesday.

“The prices of active pharmaceutical ingredients (APIs) could increase if the situation in China does not improve soon,” Zydus Group chairman Pankaj Patel said.

The department of pharmaceuticals has constituted a high-level panel to assess the impact of the virus on the supply of APIs in India.

According to official sources, Indian drugmakers have informed the committee that they have stocks for the next two to three month even as finance minister Nirmala Sitharaman assured on Tuesday that there were no reports of shortage of medicines or medical equipment.

There has been no supply from China for the last 20-25 days, mainly because of the Chinese New Year holidays, sources said.