CENTRE WAIVES IMPORT DUTY ON REMDESIVIR

The government on Tuesday waived off import duty on anti-viral drug remdesivir and its raw materials for over six months to encourage domestic pharmaceutical companies to ramp up its production and reduce its cost amid rising demand for the medicine used for Covid-19 cases.

“The Central government, on being satisfied that it is necessary in the public interest to do, hereby exempts the goods [remdesivir and its raw materials]... when imported into India, from the whole of the duty of customs leviable,” said a finance ministry order issued late night on Tuesday.

According to the order, remdesivir active pharmaceutical ingredients (APIs), beta Cyclodextrin (SBEBCD) used in manufacture of remdesivir and injection remdesivir have been exempted from import duty up to October 31, 2021.

“In line with PM @NarendraModi’s priority to ensure affordable medical care for COVID-19 patients, imports of Remdesivir API, injection and specific inputs have been made import duty free. This should increase supply and reduce cost thus providing relief to patients,” commerce and industry minister Piyush Goyal said in a tweet.

Earlier on April 11, in view of increased demand for Remdesivir, the Centre banned export of the injection and its APIs till the situation improves. The National Pharmaceutical Pricing Authority (NPPA) had last week said various drugmakers had cut the prices of Remdesivir injection.