Duties on life saving drugs hiked

The government on Friday raised import duty on life saving and bulk drugs used to treat cancer, rabies, Parkinson's disease among others to help domestic players. The customs department hiked duty on bulk drugs such as Carbidopa and Cefoparazone to 10 per cent from five per cent.

Bulk drugs or active pharmaceutical ingredients (APIs) is the substance used for making the final medical formulations - drugs for consumption. The Modi government has already expressed its apprehension as India imports more than 80 per cent of its bulk drugs from China.

"An increase has also been made in the customs duty rates of certain life saving drugs such as Abciximab, Immunoglobulin, FSH, Procarbazine and Saquinavir to 35 per cent," said MS Mani, senior director, Deloitte in India.