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  • Wockhardt Founder...

Wockhardt Founder Seeks GST Exemption on India-Discovered Antibiotics to Enhance Affordability

Farhat NasimWritten by Farhat Nasim Published On 2024-11-22T13:19:41+05:30  |  Updated On 22 Nov 2024 1:19 PM IST
US tariffs on pharma sector would be counterproductive for Americans, says Wockhardt Chairman
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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.

Also Read: Wockhardt Seeks DCGI Nod To Market Aspart Insulin Injection

Nafithromycin is the first macrolide antibiotic in 30 years to complete clinical development for community-acquired bacterial pneumonia. This achievement is significant given the stagnation in new macrolide antibiotic approvals since the late 1980s despite pneumonia causing several million deaths annually worldwide.

Nafithromycin or Miqnaf is globally the first-ever once-a-day three-days-only treatment for community-acquired bacterial pneumonia, including those caused by multi-drug resistant bugs.

Miqnaf is highly active against azithromycin and amoxicillin/clavulanate-resistant Pneumococci, as well as the entire range of pathogens involved in such infections and thus offering a monotherapy option.

Addressing the gathering, Singh cautioned physicians against indiscriminate prescription of antibiotics to patients as such practices could lead to drug resistance.

Also Read: USFDA Grants Fast-Track Designation to Wockhardt's Novel Antibiotic WCK 6777


wockhardthabil khorakiwalagst exemptionindigenous antibioticnafithromycinmacrolide antibioticpneumoniamiqnafdcgi approval
Source : PTI
Farhat Nasim
Farhat Nasim

    Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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