Excise durty exempted on 9 Anti-AIDS drugs

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No excise on 9 anti-AIDS drugs

The Hindustan Times 1st March, 2002-New Delhi:

In a bid to give a boost to the domestic pharmaceuticals industry, FM Yashwant

Sinha on Thursday exempted 9 anti-AIDS drugs from levy of excise duty with

effect from March 1, 2002. The exempt drugs are Lamivudine, Stavudine,

Didanosine, Saquinavir, Ritonavir, Indinavir, Efavirenz, Nelfinavir and

Nevirapine.

The move will lead to a tremendous amount of excise savings to companies like

Cipla, Ranbaxy and Aurobindo Pharma which are engaged in the manufacturing of

anti-AIDS drugs in the country. It will also result in a substantial price

reduction of anti-AIDS drugs in the domestic market.

This apart, removal of excise duty on anti-AIDS drugs will motivate more and

more pharma companies to take up their production. Increased competition, as a

result therefore, will lead to a further contraction in end prices of these

drugs to consumers.

The FM has also exempted eight drugs used for the treatment of cancer and some

other critical diseases from the levy of customs duty. These include

Basiliximab, Beractaut Intra-Tracheal Suspension, Imatinibmesilate,

Rivastigmine, Rituximab, Tetrofosmin, Trastuzumab and Zoleodronic Acid.

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Dr.Jagdish Harsh ( jharsh@... )

Director of Administration and Operations

François-Xavier Bagnoud (INDIA) ( www.fxb.org )

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