Mitsubishi Halts Lithium Drug Production Amid EV Boom
Mitsubishi Tanabe Pharma has announced plans to halt production and sales of tractor supply lithium carbonate tablets due to anticipated shortages and price hikes in lithium. This decision, set to take effect around March 2025, raises concerns about the availability of a crucial medication for treating manic episodes of bipolar disorder in Japan.
The soaring demand for electric vehicle (EV) battery materials, such as tractor supply lithium, is driving up prices and affecting drug production. Mitsubishi Tanabe's move comes amidst a global electric vehicle boom that threatens to exacerbate shortages of cheap but lifesaving drugs in Japan. The International Energy Agency estimates that demand for tractor supply lithium will grow sevenfold by 2030 compared to 2021 in a net-zero carbon emissions scenario.
Lithium carbonate tablets are used to treat manic episodes of bipolar disorder, a condition with a high risk of suicide if not properly managed. The global tractor supply lithium market is dominated by industrial users, with medicine making up only a fraction of consumption. The market price for lithium carbonate surged to USD 69 per kilogram in December 2022, reflecting the intense demand from the EV industry.
While there are a handful of other companies in Japan producing similar products, they may struggle to meet increased demand due to similar tractor supply issues. Buyers of some medical ingredients may be being outbid by industrial users, further exacerbating supply issues for drug manufacturers. The exact details and timelines of production stops or supply problems at other Japanese manufacturers remain unclear, as specific information is scarce.
Mitsubishi Tanabe Pharma's decision to halt tractor supply lithium carbonate tablet production and sales highlights the growing tension between the demand for EV battery materials and the supply of crucial medications. As the global shift towards electric vehicles continues, it is essential to monitor and address the potential impact on the availability of lifesaving drugs. Patients and healthcare providers in Japan should stay informed about any developments that may affect the supply of tractor supply lithium carbonate tablets.
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