Customs Duty Exemptions on Lifesaving Drugs Announced

Finance Minister Nirmala Sitharaman announced the full exemption of customs duties on 36 drugs used for cancer and other chronic diseases. This measure seeks to provide relief to patients. A reduction in customs duties on additional medicines and support for Patient Assistance Programmes was also proposed.

On Saturday, Finance Minister Nirmala Sitharaman unveiled a significant proposal to fully exempt customs duty on 36 drugs crucial for the treatment of cancer, rare diseases, and other severe chronic ailments. This move aims to alleviate financial burdens on affected patients.

Previously, the government had waived customs duties on drugs like Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. The latest announcement further expands the list of medications benefiting from full exemption from Basic Customs Duty (BCD), while six additional lifesaving medicines will benefit from a reduced customs duty of 5%.

Sitharaman also highlighted that specified medications under Patient Assistance Programmes operated by pharmaceutical companies are exempt from BCD, provided they're distributed to patients at no cost. The new proposal includes 37 more medicines and 13 new assistance programs, reinforcing the administration's commitment to patient welfare.

(With inputs from agencies.)