Ahead of the upcoming Union Budget, Biocon’s Chairperson, Kiran Mazumdar-Shaw, has urged the Indian government to eliminate taxes on cancer and chronic disease medications to make them more affordable.

 

Mazumdar-Shaw pointed out that most medical expenses in India are paid out of pocket, including diagnostic scans, which are often costly. She recommended that any drug used for chronic treatments, such as cancer, with a monthly cost above Rs 5,000 should be exempt from taxes.

 

She also called for reduced import duties on medical equipment and materials for life-saving medicines, especially for cancer treatments, which currently face high tariffs of up to 36%. This, she believes, would significantly reduce the financial burden on patients.

 

Mazumdar-Shaw’s remarks come as part of a broader push to make healthcare more accessible to India's price-sensitive market, particularly in the wake of the pandemic.