Meitheal Pharmaceuticals is dedicated to supplying high quality, affordable generic injectables to the U.S. healthcare market and utilizes contract manufacturers in China and Europe, among other places, in furtherance of this mission. In December 2019, a novel strain of COVID-19 (coronavirus) was documented in Wuhan, China and has since spread across six continents and in more than 100 countries. As part of the effort to combat coronavirus, a number of travel restrictions have been put in place across the globe. This has impacted some of our suppliers business operations.
As a result, we are actively engaged with our suppliers and partners concerning any material impact in supplying our products to meet our customers’ needs, including any anticipated supply disruption relative to coronavirus. To date, we have not experienced any significant disruptions in our supply chain as a result of coronavirus. We believe we are well positioned from a supply chain perspective to meet our customers’ needs as we maintain sufficient inventory on hand to support our customers’ forecasted requirements. We feel that we are well positioned to address any potential increased cost of supply as we are vertically integrated with NKF, the supplier of a majority of our products.
The extent to which coronavirus impacts our operations however will depend on future developments, which are highly uncertain and cannot be predicted with confidence. As coronavirus spreads in the U.S. we are actively assessing immediate global mobility concerns by reviewing our travel policies, HR policies and issuing work from home policies.
At this time, though, based on the information provided by our suppliers and partners and our inventory on hand, we do not anticipate any material impact in our ability to supply product to our customers as a result of coronavirus. We will continue to monitor the situation and provide updates to our customers should we become aware of any material supply interruptions resulting from coronavirus.