India slashes cost of cancer drugs after court rules mark-ups are ‘extortion’
Summary
The Indian government is lowering prices on 137 cancer drugs to make treatment more affordable after the Supreme Court found large price mark-ups by hospitals and pharmacies. This move aims to reduce the financial burden on poor cancer patients who often face debt or give up treatment due to high costs.Key Facts
- The price cuts will start next month and cover 137 cancer drugs.
- The Supreme Court described high mark-ups on cancer drugs as "extortion" and "carnage."
- Hospitals and chemists were charging much more than the government wholesale price; for example, one drug costing 2,700 rupees was sold for 27,000 rupees.
- Some cancer drugs had mark-ups of over 700%, with an average of 170%.
- Before, only 42 drugs had a 30% trade margin cap, but now this cap applies to more drugs.
- The price reduction could lower drug costs by up to 70%, saving patients about 2,500 crore rupees (£199 million) yearly.
- Many poor patients avoid cancer tests or treatment due to fear of high costs.
- India’s government insurance covers some cancer costs but often not enough for expensive drugs or full treatment.
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