New Delhi: The government has asked companies to reduce prices of three products anticancer drugs convey benefits Customs duty exemption and Consumption tax reduction to consumers. In line with the government’s commitment to ensure availability of medicines at affordable prices, the National Pharmaceutical Pricing Authority (NPPA) has issued an office memorandum instructing relevant manufacturers to reduce the MRP of three anti-cancer drugs: Trastuzumabosimertinib and durvalumab.
This is in line with the decision to exempt the three anti-cancer drugs from customs duties announced in the Union Budget 2024-25, the Ministry of Chemicals and Fertilizers said in a statement.
The Taxation Department of the Ministry of Finance issued a notice on July 23 to reduce the tariffs on these three drugs to zero this year.
“Therefore, the recommended retail prices of these medicines in the market should be reduced and the benefits of reduced taxes and duties should be passed on to consumers,” the ministry said.
Therefore, NPPA has directed the manufacturers of all the above mentioned medicines to reduce their MRP.
The ministry said manufacturers must issue price lists or supplementary price lists indicating price changes to distributors, national drug regulatory agencies and the government, and submit information about price changes to the National Medical Products Administration.
While presenting the Union Budget 2024-25 to the Lok Sabha, Finance Minister Nirmala Sitharaman proposed cutting customs duty on Trastuzumab, Osimertinib and Durvalumab from 10 per cent to zero.
