Arch Pharma Labs files against alleged dumping of Chinese pharma chemical, India begins probe
The product is a key raw material to manufacture Atorvastatin API (active pharma ingredient).
New Delhi: India has initiated an anti-dumping probe against a chemical used in the pharmaceutical industry imported from China, following a complaint filed by Arch Pharma Labs. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'ATS-8' from China.
The domestic company Arch Pharma Labs has filed an application before the DGTR seeking initiation of an anti-dumping investigation concerning imports of this chemical from China.
It was alleged that the dumping of the product has impacted the industry.
On the basis of the duly substantiated written application by or on behalf of the domestic industry, and having satisfied itself, on the basis of the prima facie evidence submitted about the dumping, the DGTR has initiated the investigations, according to a notification of the directorate.
If it is established that the dumping has caused material injury to the domestic players, the DGTR would recommend the imposition of anti-dumping duty on imports from China.
The finance ministry takes the final decision to impose the duties.
The product is a key raw material to manufacture Atorvastatin API (active pharma ingredient).
Atorvastatin drug formulations are widely used to treat the lowering of excess cholesterol condition, which can otherwise lead to cardiovascular problems like heart attack and stroke, if not treated.
Countries start anti-dumping probes to determine whether their domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organisation (WTO).
The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
India has already imposed an anti-dumping duty on several products to tackle cheap imports from various countries, including China.
Next Story