Wockhardt Founder Seeks GST Exemption on India-Discovered Antibiotics to Enhance Affordability
At an event celebrating India's first indigenously developed antibiotic, Nafithromycin, Khorakiwala highlighted the disparity in GST.;
New Delhi: Wockhardt founder Habil Khorakiwala on Wednesday sought exemption from GST for antibiotics discovered in India as part of efforts to make the drugs more affordable for patients.
At an event to celebrate the scientific completion of the first indigenously developed antibiotic - Nafithromycin - against multi-drug resistant (MDR) isolates, Khorakiwala pointed out that certain drugs were exempt from GST while some others attracted 5 per cent tax.
With Science and Technology Minister Jitendra Singh among the listeners, the founder of the country’s prominent pharmaceutical player said, “My request is that these antibiotics discovered in India must receive a similar kind of status. Effectively, it will become more affordable to the patient.” “I would have said the same thing had I been in his position,” Singh responded.
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