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AIDS drugs may get tax breaks

The chemicals ministry is finalising a list of cancer and HIV/AIDS medicines to be recommended to the finance ministry for removing customs and excise levies at a meeting scheduled for January 19, 2006.

The list of medicines submitted by institutions like the All India Institute of Medical Sciences and the National AIDS Control Organisation to the chemicals ministry include products from Cipla, GlaxoSmithKline, Emcure, Citadel Aurobindo, Pfizer, Dr. Reddy’s and Fulford India among others

Sources said 12 first generation AIDS drugs which figure in the national list of essential medicines (NLEM) and another 10 new generation ones will be recommended for all duty cuts. At present, medicines attract a 16% excise duty and a 15% peak customs duty, which vary from product to product.

(The Economic Times)

 
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