Boehringer Ingelheim India has lauded the recent decisions of the GST Council to lower tax rates on medicines, life-saving drugs for severe chronic and rare diseases, as well as on medical devices, diagnostic kits, and equipment. The exemption of GST on individual health insurance policies is also expected to make insurance more affordable and drive wider coverage in the country. According to the company, these steps will significantly boost public health, improve access to innovative medicines, and accelerate industry growth.
With a strong focus on non-communicable diseases such as diabetes, cardiovascular conditions, stroke, and chronic kidney disease in human health, along with poultry and pets in animal health, the company believes the reforms will reduce treatment costs, support timely diagnosis, and strengthen adherence to long-term therapies.
"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 has already begun recalibrating its pricing structures to reflect the revised GST rates and is actively engaging with healthcare professionals, distributors, and retailers to ensure swift and transparent implementation. The company emphasized that such reforms pave the way for a more equitable, sustainable, and innovation-driven healthcare ecosystem where both patients and the industry can thrive.