What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
NEW DELHI: Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024 on Tuesday where one of the most significant aspects for the health sector was exempting three cancer drugs have beenfrom custom duties, which will result in cost reduction of the drugs.
The exempted cancer drugs include Trastuzumab Deruxtecan, Osimertinib, and Durvalumab, which are primarily used in the treatment of lung and breast cancer. Dr. Shriram Kaurav, MD at MY Hospital in Indore, told The New India, “Trastuzumab Deruxtecan is used in the treatment of breast, lung, and stomach cancer. Previously, its cost was ₹3 lakh; now it has been reduced to ₹2.70 lakh. Osimertinib treats a specific type of lung cancer with gene mutations, halting cancer cell growth. Its price was ₹2.40 lakh, and now it will be available for ₹2.16 lakh. Durvalumab is an immunotherapy drug used for lung and bladder cancers, aiding the immune system in attacking cancer cells. It was available for ₹1.89 lakh, and now its price will be reduced to ₹1.70 lakh. This is a significant impact on health and cancer treatments.”
Given the high expense of cancer treatments, which often makes them inaccessible to many, this exemption is a crucial step. According to the World Health Organization (WHO), lung cancer is the leading cancer among men in India, while breast cancer is the most common cancer overall, accounting for 13.5% of all cancer cases and 10.6% of cancer deaths, according to the Global Cancer Observatory 2020 data.
Arjun Juneja, Chief Operating Officer of Mankind Pharma Limited and Chairman of the Pharma Committee at FICCI reacted to the budget, “The exemption of customs duties on three additional cancer medications is a commendable step towards easing the financial burden on patients. These initiatives, coupled with improvements in logistics and supply chain management, will significantly boost the pharmaceutical and healthcare sectors. While we appreciate the comprehensive strategy, we look forward to further discussions on critical issues like GST rationalization for healthcare and addressing the nursing shortage. The budget sets a positive direction, and with effective implementation, it has the potential to transform India’s healthcare landscape, making it more resilient, accessible, and aligned with our vision of a healthier nation.”
In addition to the exemptions, Sitharaman also announced the government’s plan to encourage vaccination against cervical cancer for girls aged 9 to 14 years and to expand the Ayushman Bharat insurance scheme to cover ASHA and Anganwadi workers.
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He added, “The 2024-2025 budget demonstrates a strong commitment to the health sector’s growth and development, aligning with the vision of ‘Viksit Bharat’. We applaud the government’s holistic approach to healthcare, addressing crucial areas such as medical education, preventive care, and infrastructure development. The allocation for long-term R&D financing in pharma, recognition of the sector as a sunrise industry, and the bio-manufacturing scheme are particularly encouraging.
The Budget also proposed changes to the basic customs duty for X-ray tubes and flat panel detectors used in medical X-ray machines, aligning with domestic capacity expansion under the phased manufacturing program. This year, the Health Ministry has been allocated ₹90,958.63 crore, reflecting a 12.9% increase from the previous budget. Of this amount, the Department of Health and Family Welfare will receive ₹87,656.90 crore, and the Department of Health Research will receive ₹3,301.73 crore.
