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Business News » India News


MANUFACTURERS REDUCE MRP ON 3 ANTICANCER DRUGS AFTER BCD, GST CUTS: CENTRE


THE GOVERNMENT HAD ISSUED NOTIFICATIONS TO REDUCE BASIC CUSTOMS DUTY (BCD) TO
ZERO ON THESE THREE DRUGS/FORMULATIONS, APART FROM SLASHING GST RATES ON THESE
ANTICANCER DRUGS FROM 12 PER CENT TO 5 PER CENT, UNION MINISTER OF STATE FOR
CHEMICALS AND FERTILISERS, ANUPRIYA PATEL, TOLD THE LOK SABHA IN A WRITTEN
REPLY.

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Manufacturers have started to reduce the maximum retail price (MRP) on three
anticancer drugs

Manufacturers have started to reduce the maximum retail price (MRP) on three
anticancer drugs -- Trastuzumab Deruxtecan, Osimertinib, and Durvalumab drugs --
as directed by the government to pass on the benefits to the consumers, the
Parliament was informed on Friday.





The government had issued notifications to reduce basic customs duty (BCD) to
zero on these three drugs/formulations, apart from slashing GST rates on these
anticancer drugs from 12 per cent to 5 per cent, Union Minister of State for
Chemicals and Fertilisers, Anupriya Patel, told the Lok Sabha in a written
reply.


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She said that in compliance with the notifications, manufacturers reduced the
MRP on these drugs and filed the information with the National Pharmaceutical
Pricing Authority (NPPA).

The NPPA had issued a memorandum, directing the companies to reduce MRP on these
drugs on account of reduction in GST rates and exemption from customs duties, so
as to pass on the benefit of reduced taxes and duties to the consumers and to
furnish information about change in prices.

For example, AstraZeneca Pharma India Ltd has reduced MRP per vial on several
formulations.





"As informed by the company vide letter dated 19.11.2024, downward revision on
account of BCD becoming nil shall be implemented when the stocks benefitting
from BCD relief are released for commercial sales in the market," according to
the Ministry of Chemicals and Fertilisers.

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In the Union Budget, the government exempted customs duty on three cancer drugs
to reduce the financial burden of people suffering from cancer and also to
facilitate accessibility. 

The government also slashed the GST rate from 12 per cent to 5 per cent on these
three cancer medicines. While Trastuzumab Deruxtecan is used for breast cancer,
Osimertinib is for lung cancer; and Durvalumab is for both lung cancer and
biliary tract cancer.

Cancer cases are rising significantly in India. According to a recent Lancet
study, India registered about 12 lakh new cancer cases and 9.3 lakh deaths in
2019 -- the second-highest contributor to the disease burden in Asia.

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