About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Prices of Some Key Drugs to Go Down in India

by Gopalan on July 7, 2009 at 1:04 PM
Font : A-A+

 Prices of Some Key Drugs to Go Down in India

Prices of cancer, cardiac, hepatitis, and arthritis could go down in India in the wake of the budget proposals of Monday.

The federal Finance Minister announced lowering of customs duty on as many as nine specified drugs, mainly biologics, used in treatment of cancer, HIV, hepatitis-B, arthritis drugs and two life-saving cardiac devices.

Advertisement

The reduction ranges from ten per cent to five per cent on medicines and bulk drugs, and from 7.5 per cent to five per cent on devices.

Also, Piramal healthcare Director Swati Pirmal noted, "Excise duty remaining at four per cent and implementation of GST should reduce transaction costs, and the patients should stand to benefit ultimately."
Advertisement

However, the pharmaceutical and healthcare industry expressed their disappointment, saying their demands for tax incentives for R&D have been ignored. "The pharma industry has neither gained anything and nor lost anything in the Budget, there is nothing in it for us to celebrate," said  Indian Drug Manufacturer Association Executive Director Gajanan Wakankar.

Fortis Healthcare Managing Director and Chief Executive Officer Shivinder Mohan Singh said, "Healthcare sector has been ignored. We had been expecting a boost for the healthcare infrastructure, but nothing has been said on it. Budget was mute.
We are disappointed."

However, reduction of customs duty and zero excise duty on certain medical device is likely to rationalize the cost of treatment of heart ailments. The devices are generally expensive for a large size population suffering from heart ailments in India, and hence rationalization should make the devices that much cheaper, said Ernst & Young Partner and National Leader, Health Sciences Practice, Hitesh Sharma said.



Source: Medindia
GPL
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
News Category
What's New on Medindia
Sensory Processing Disorder (SPD)
First Dose of COVID-19 Vaccines May Improve Mental Health
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Drug Toxicity Signature Drug Toxicity Drugs Banned in India 

Recommended Reading
Drug Policy
Drug policy in India...
Indian Finance Minister Increases Allocation for Health by 15 Per Cent
Presenting the budget for 2008-09 India's Finance Minister has increased the allocation for health ....
Indian Pharma Market Posts Robust Growth
Never mind the global turbulence. India's pharma sector posted a robust growth of 14 per cent in ......
Drug Toxicity
Drug toxicity is an adverse reaction of the body towards a drug that results as a side effect of a d...
Drugs Banned in India
Several drugs are either banned or withdrawn after introduction in the market....

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use