BusinessWire India
Mumbai (Maharashtra) [India], September 19: Boehringer Ingelheim India commends the recent measures announced by the GST Council aimed at reducing tax rates on medicines and life-saving drugs used for treatment of severe chronic diseases, cancer, rare diseases, medical apparatus, devices, diagnostic kits, and equipment. Additionally, exemption of GST on individual health insurance policies will make it affordable for the common man and drive insurance coverage in the country. The company believes that these reforms by the Government of India will strongly contribute to public health, access to innovative medicines and industry growth.
With its strong focus on non-communicable diseases such as diabetes, cardiovascular diseases, stroke and chronic kidney disease in human health, and poultry and pets in animal health, the company sees these changes easing treatment costs, supporting timely diagnosis, and improving long-term adherence to treatments.
"We view the reforms as a pivotal step towards building a more inclusive healthcare system and commend the GST council for initiating this systemic change. It will foster greater treatment compliance and reduce burden on the healthcare infrastructure resulting in better health outcomes for individuals and the nation. We are committed to proactively passing on these benefits to the end consumer and working collaboratively with all stakeholders to maximize the impact of these reforms across both human and animal health," stated Sandip Agrawal, Director Finance and Administration, Boehringer Ingelheim India.
He further adds, "A rationalized tax framework directly supports our endeavor to ensure that patients, especially those managing chronic conditions, can benefit from the reduced tax burden on medicines."
Boehringer Ingelheim India is already recalibrating its pricing structures to immediately reflect the revised GST rates and is engaging with healthcare professionals, distributors, and retailers to ensure the changes are implemented swiftly and transparently. The company believes that such reforms lay the foundation for a more equitable, sustainable, and innovation-driven healthcare ecosystem where both patients and industry can thrive.
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