India imposes 30 pc margin cap on cancer medicines prices
NEW DELHI: The Indian government has imposed a 30% margin cap on the maximum retail price, amid complaints about exorbitant anti-cancer drug prices in the country over the years.
The cap will be imposed on non-scheduled cancer drugs. Essential cancer medicines included in the scheduled list were already subject to strict government-set ceiling prices.
In an official statement issued by the Department of Pharmaceuticals in the Federal Ministry of Chemicals and Fertilizers, the government said the move would save cancer patients in the country around INR 25 billion, approximately $258.7 million, annually. The ministry's statement added that an expert committee under the Directorate General of Health Services will finalise the list of medicines to be covered, after which the National Pharmaceutical Pricing Authority would take a decision and issue a notification.
It was found that non-scheduled anti-cancer medicines carried an average price mark-up of approximately 170%, reaching 700% or more in some cases. The price rose sharply as the medicines moved through the supply chain before reaching patients, the statement added.
By RSS/Xinhua
