According to a recently released Times of India report, India’s Ministry of Health is planning to institute a new pricing model that will lower the cost of cancer medications. The health ministry will buy these drugs in bulk before supplying them to consumers at a lower price. The government is working to collaborate with the pharmaceutical industry, the Times of India reported, and the new regulations will take into account pricing, manufacturing costs, and patents.
This proposed change to cancer medication pricing reflects the Indian government’s long-term interest in making pharmaceuticals and medical devices more affordable for the general public. In June, the National Pharmaceutical Pricing Authority (NPPA) began investigating the pricing of cardiac stents as well as orthopedic implants. Medicines not currently under the purview of the NPPA can be freely priced, but prices can only increase 10% each year.