Budget 2024: Customs duty exemption announced for 3 cancer medicines

New Delhi: Finance Minister announces revision of custom duty rates on X-ray tubes and flat panel detectors

BY | Wednesday, 24 July, 2024
(PC: Arek Socha/ Pixabay)

Union Finance Minister, Nirmala Sitharaman announced the exemption of three additional cancer medicines—Trastuzumab Deruxtecan, Osimertinib, and Durvalumab—from customs duty as she presented the Union Budget 2024-25 in Parliament on 23rd July 2024, the Ministry of Health and Family Welfare (MoHFW) informed in a statement.

The Ministry stated that it had forwarded the request to the Ministry of Finance in view of the 27 lakh cancer patients in the country to improve the affordability of these drugs.

The three cancer drugs namely Trastuzumab Deruxtecan, Osimertinib and Durvalumab are used for different tumor types viz.

– Trastuzumab Deruxtecan – Breast Cancer

– Osimertinib – Lung Cancer; and

– Durvalumab – Lung Cancer and Biliary Tract Cancer

Further, the MoHFW said that the custom duty rates on X-ray tubes and flat panel detectors have also been revised which are expected to positively impact the X-ray machine industry by enhancing component availability at lower costs. This change is anticipated to boost the domestic medical device sector, contribute to component availability at lower costs and reduced healthcare costs, making advanced medical imaging more accessible and affordable, it stated.

The budget expenditure for FY 2024-25 under the National Health Mission (NHM) has also been increased by approx. Rs 4000 Cr from Rs 31,550 Cr to Rs 36000 Cr.

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