The article looks at how API price moves from key starting materials to the final quote, how that dependency shows up in the US, UK, Japan, Latin America and Africa, what three past events (the 2017-18 environmental inspections, a regulator's action over chlorpheniramine pricing, and the 2018 valsartan recall) showed about concentration, and where dual sourcing, contract terms and stock each help and each cost something.
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