Bal Pharma to gain from anti-dumping duty on Chinese gliclazide
Ministry of Finance had imposed anti-dumping duty on gliclazide imported from China as the domestic industry has suffered material injury
 "Bal Pharma to gain from anti-dumping duty on Chinese gliclazide")
Bal Pharma Ltd, which is the largest producer of the bulk drug gliclazide (an anti-diabetic drug) in India, is expected to gain from the government's decision to impose anti-dumping duty on the import of gliclazide from China into India. The company had filed an anti-dumping application against dumping of gliclazide into Indian market by China.
Acting on this application, Ministry of Finance on December 8, 2015, imposed anti-dumping duty on gliclazide imported from China as the domestic industry has suffered material injury due to this dumping.
"With this anti-dumping notification, the company will have a distinctive advantage to consolidate its marketshare in domestic and international markets and also will significantly improve its revenues if it can meet the demand of gliclazide sans supplies from China," said Bal Pharma in a BSE filing.
Bal Pharma, which has a manufacturing facility at Bangalore, supplies gliclazide to domestics and exports markets and enjoys a sizable share in both the markets.
Acting on this application, Ministry of Finance on December 8, 2015, imposed anti-dumping duty on gliclazide imported from China as the domestic industry has suffered material injury due to this dumping.
"With this anti-dumping notification, the company will have a distinctive advantage to consolidate its marketshare in domestic and international markets and also will significantly improve its revenues if it can meet the demand of gliclazide sans supplies from China," said Bal Pharma in a BSE filing.
Bal Pharma, which has a manufacturing facility at Bangalore, supplies gliclazide to domestics and exports markets and enjoys a sizable share in both the markets.