India lowers cancer drug prices following Supreme Court ruling on markups
The Indian government announced price cuts for 137 cancer medicines after the Supreme Court ruled that high markups constitute extortion.
Court finds markups excessive
Justices Vikram Nath and Sandeep Mehta described the pricing situation as carnage during a hearing on 29 September. Analysis by the National Pharmaceutical Pricing Authority showed trade mark-ups averaging 170% with some cases exceeding 700%. Hospitals and retailers were found to enjoy large margins on life-saving medicines supplied at low costs.
Prices drop next month
From the following month, 137 specific cancer drugs will be sold at reduced rates across India. This move aims to help poorer patients who previously faced selling land or taking on debt for treatment. The government acts after a retired bank clerk filed a petition demanding intervention in 2022.
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