Business News | Union Budget 2025: FM Sitharaman Announces Expansion of List of Lifesaving Drugs, Medicines
Get latest articles and stories on Business at LatestLY. In a significant move to provide relief to patients battling severe chronic ailments, Finance Minister Nirmala Sitharaman has announced the expansion of the list of lifesaving drugs and medicines fully exempted from Basic Customs Duty (BCD) in the Union Budget 2025-26.
New Delhi [India], February 1 (ANI): In a move aimed to provide relief to patients battling severe chronic ailments, Union Finance Minister Nirmala Sitharaman on Saturday announced the expansion of the list of lifesaving drugs and medicines fully exempted from Basic Customs Duty (BCD) in the Union Budget 2025-26.
This initiative aims to reduce the financial burden on patients suffering from cancer, rare diseases, and other critical health conditions.
As part of this measure, the government has added 36 more lifesaving drugs and medicines to the fully exempted category.
These include advanced treatments for cancer, genetic disorders, and immune-related conditions, making them more affordable for patients in need.
Additionally, six more lifesaving medicines have been included in the concessional duty list, attracting a reduced customs duty of 5 per cent. To further support accessibility, full exemption and concessional duty will also apply to the bulk drugs used in the manufacture of these medicines.
Recognizing the crucial role of pharmaceutical companies' Patient Assistance Programmes (PAPs) in providing free medicines to those in need, the government has also expanded this category.
A total of 37 more medicines have been added to the fully exempted list when supplied free of cost under 13 new Patient Assistance Programmes. This move will significantly benefit patients who rely on such programs for expensive and critical treatments.
The newly exempted drugs cover a wide range of conditions, including cancer treatments such as Onasemnogene abeparvovec, Asciminib, Daratumumab, and Teclistamab. Treatments for rare diseases like Risdiplam, Spesolimab, Velaglucerase Alpha, and Agalsidase Alfa have also been included.
Additionally, medicines for severe chronic illnesses such as Alirocumab, Evolocumab, and Inclisiran are part of the expanded exemption list. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)