In a significant move that promises to bring relief to cancer patients across the country, the Indian government has announced an exemption on customs duties for three critical cancer medicines: Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. This decision is seen as a major step towards making advanced cancer treatments more accessible and affordable.
“We deeply appreciate the government’s decision to exempt three critical cancer medicines – Trastuzumab Deruxtecan, Osimertinib, and Durvalumab – from customs duties. This move will provide much-needed relief to cancer patients by reducing the financial burden of these life-saving drugs. The current customs duty of 10% was a significant cost barrier, and this exemption is a welcome step towards making advanced cancer treatments more accessible. We appreciate that the Government of India has reiterated the importance and necessity of Patient Assistance Programmes (PAP) offered by the pharmaceutical industry to improve access to life-saving drugs by extending the customs duty waiver on drugs and medicines imported to India for the supply under PAP through to March 31, 2029,” said Mr. Anil Matai, Director General, Organisation of Pharmaceutical Producers of India (OPPI).
Prime Minister Narendra Modi’s call of “Jai Jawan, Jai Kisan, Jai Vigyan, Jai Anusandhan” was echoed in this year’s budget, highlighting the importance of innovation and research. The budget announced the operationalization of the Anusandhan National Research Fund to support basic research and prototype development, along with a financing pool of ₹1 lakh crore to encourage private sector-driven research and innovation in the pharmaceutical sector.
“While we appreciate the positive strides taken in the Union Budget 2024, we were also hoping that the government could announce incentives for pharma companies to develop medications for rare diseases affecting small populations. This may also help in attracting investment into India to undertake R&D for rare diseases. We were hoping for focused measures like the establishment of more CoEs for the management of rare diseases. We were also hoping for stricter and unambiguous enforcement of IP regulations required for Pharma MNCs to introduce newer innovative therapies for Indian patients. The incentivization of R&D investments in India is necessary as it will significantly move towards AtmaNirbhar Bharat and a more resilient and future-ready pharmaceutical industry. Overall, the Union Budget 2024 reflects a forward-looking and inclusive approach, and the pharmaceutical sector looks forward to actively participating in and contributing to the realization of these transformative initiatives,” added Mr. Matai.
Dr. Mandeep Singh Basu, Director of Jagat Pharma, appreciated the budget’s focus on MSMEs, saying, “The emphasis on facilitating term loans to MSMEs through the new credit guarantee scheme is appreciated. This initiative is immensely beneficial as it offers essential collateral-free loans, greatly improving credit access for MSMEs. This budget marks a significant advancement towards fostering growth and resilience within the MSME sector. New and small businesses often lack sufficient collateral to avail loans, and collateral-free loans remove this barrier, allowing more businesses to access the funds they need to grow and operate. By offering credit-free loans, the government is encouraging entrepreneurship and the establishment of new businesses. We are confident that these initiatives will positively impact the sustainability and development of businesses nationwide.”
Mr. Satya Prakash Singh, Director and Founder of Mediword Healthcare, remarked, “As we analyze the latest budget, it is clear that the government has made significant strides in addressing the critical needs of our health sector. The increased allocation towards healthcare infrastructure and technology is a commendable step towards ensuring that quality healthcare is accessible to all. The emphasis on enhancing primary care facilities and expanding telehealth services will play a crucial role in bridging the gap between urban and rural healthcare accessibility. Additionally, the budget’s focus on mental health resources and preventive care initiatives underscores a holistic approach to the nation’s well-being. We are optimistic that these measures will not only strengthen our healthcare system but also pave the way for a healthier future for our citizens. It is now imperative for all stakeholders to collaborate and effectively implement these initiatives to achieve the desired outcomes.”
Dr. (Prof.) Chintamani, Chairman of Surgical Oncology at Sir Gangaram Hospital, highlighted the impact of the duty exemption on cancer treatment costs. “Anticancer treatment in general is very expensive, and with India becoming the cancer capital of the world, most people being from poor strata, any reduction in the cost of management is hugely welcome. Anti-cancer treatment includes state-of-the-art surgery, expensive chemotherapy, and newer modalities of radiation. All these need to be made cheaper. It is truly a welcome step making cancer drugs like Deruxtecan, which is used in breast cancer in patients with Her 2 positive gene, and Osimertinib in lung cancer for EGFR mutation. With the duty being exempted, these drugs are going to become affordable for patients in this part of the world. Drugs like Durvalumab, a drug for lung and biliary tract cancer, having been made cheaper by taking away the duties, is going to really help patients presenting late, a common scenario in India. On the whole, it is truly a welcome step in the right direction where more and more lifesaving anticancer drugs and anti-cancer treatment should become affordable.”
This exemption on customs duties is expected to make a substantial difference in the lives of cancer patients, offering them hope and easing their financial burdens as they battle this challenging disease.
