HS Code:
Tolmetin sodium dihydrate is a nonsteroidal anti-inflammatory drug (NSAID) used primarily for the treatment of pain and inflammation associated with conditions like rheumatoid arthritis and osteoarthritis. It falls under the pharmaceutical category of organic compounds and is often classified under HS Code 293399 (Heterocyclic compounds with nitrogen hetero-atom(s) only). This product is traded globally as a raw material for pharmaceutical manufacturing and as a finished medicinal product.
Total Trade Volume
Approximately $45 million USD
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
$18 million USD
40% of total trade of total trade
Increasing
$10 million USD
22% of total trade of total trade
Stable
$7 million USD
16% of total trade of total trade
Decreasing
$5 million USD
11% of total trade of total trade
Increasing
$3 million USD
7% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-US trade pacts)
Rising demand for generic NSAIDs
Increased export opportunities for cost-competitive producers like India and China
2021-2022
Shift towards sustainable production practices
Higher compliance costs for manufacturers but improved market access in eco-conscious regions like the EU
2022
Growing prevalence of arthritis globally
Sustained demand for Tolmetin-based formulations, especially in aging populations
2020-2022
The Indian government introduced a Production Linked Incentive (PLI) scheme to boost domestic manufacturing and export of APIs, including Tolmetin sodium dihydrate.
March 2022
Likely to increase Indiaโs share in global trade by reducing production costs and enhancing competitiveness.
The European Union tightened regulations on pharmaceutical imports, mandating stricter quality control checks for NSAIDs like Tolmetin.
July 2023
May lead to temporary trade disruptions for non-compliant exporters but ensures higher product safety standards.
Ongoing trade disputes have led to additional tariffs on Chinese pharmaceutical intermediates, impacting Tolmetin supply chains.
January 2023
Potential shift in sourcing to alternative suppliers in India and Europe.