HS Code:
Tolmetin Sodium (anhydrous) falls under the category of non-steroidal anti-inflammatory drugs (NSAIDs) used primarily for the treatment of pain and inflammation associated with conditions like rheumatoid arthritis and osteoarthritis. Classified under HS Code 293399 (Heterocyclic compounds with nitrogen hetero-atom(s) only), it is a pharmaceutical chemical compound traded globally as an active pharmaceutical ingredient (API) for drug formulation. The trade of Tolmetin Sodium is influenced by factors such as patent status, regulatory approvals, and demand for generic drugs.
Total Trade Volume
Approximately USD 12 million
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
USD 4.8 million
40% of total trade of total trade
Increasing
USD 3.6 million
30% of total trade of total trade
Stable
USD 1.8 million
15% of total trade of total trade
Decreasing
USD 1.2 million
10% of total trade of total trade
Stable
USD 0.6 million
5% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-India FTA)
Rising demand for generic NSAIDs
Increased export opportunities for countries like India and China due to cost-effective production of Tolmetin Sodium generics.
2021-2022
Stringent regulatory frameworks
Higher compliance costs for exporters, especially in markets like the EU and US, impacting smaller manufacturers.
2020-2022
Shift towards alternative NSAIDs
Decline in demand for Tolmetin Sodium in some regions due to preference for newer drugs with fewer side effects.
2019-2022
The European Union introduced stricter guidelines for the import of active pharmaceutical ingredients, including Tolmetin Sodium, mandating additional documentation and compliance with EU GMP standards.
March 2023
Potential delays in exports to EU markets and increased costs for non-EU manufacturers.
Under the Production Linked Incentive (PLI) scheme, India has provided subsidies to domestic manufacturers of APIs like Tolmetin Sodium to reduce dependency on imports and boost exports.
January 2022
Strengthened Indiaโs position as a leading exporter, potentially increasing global market share.
The US FDA granted approval to multiple generic versions of Tolmetin Sodium, increasing competition in the domestic market.
September 2022
Reduced import demand in the US as domestic production ramps up.