Last Updated on November 11, 2024 by The Health Master
Cancer Drug
Key Takeaway: A Win for Cancer Patients
In a significant move aimed at easing the financial burden on cancer patients, the National Pharmaceutical Pricing Authority (NPPA) has directed pharmaceutical companies to reduce the prices of three crucial anti-cancer drugs.
These drugs, trastuzumab deruxtecan, osimertinib, and durvalumab, were previously exempted from customs duty and GST.
Why the Price Cut?
The price reduction is a direct consequence of the Central government’s decision to fully exempt these drugs from customs duty in the Union Budget 2024-25.
Additionally, the GST Council recommended a reduction in the GST rate on these drugs from 12% to 5%.
How Does This Benefit Patients?
By eliminating customs duties and reducing GST, the government aims to make these life-saving medications more affordable for cancer patients.
The NPPA’s directive ensures that the benefits of these tax cuts are directly passed on to consumers.
NPPA’s Role in Cancer Drugs Pricing
The NPPA plays a crucial role in regulating the prices of essential medicines, including cancer drugs.
In recent years, the authority has taken several steps to make these drugs more affordable:
- Price Ceiling for Scheduled Drugs: The NPPA has fixed ceiling prices for 131 anti-cancer drugs listed under the National List of Essential Medicines (NLEM) 2022. This has resulted in a significant reduction in the cost of these drugs.
- Trade Margin Rationalization: The NPPA has capped the trade margin on 42 non-scheduled anti-cancer drugs, leading to a reduction in their maximum retail price.
- Promotion of Generic Medicines: The government has been promoting the use of generic medicines, which are often more affordable than branded drugs.
A Ray of Hope for Cancer Patients
The NPPA’s latest move, combined with other government initiatives, offers a ray of hope for cancer patients in India.
By making these life-saving drugs more affordable, the government is taking a significant step towards ensuring that no one is denied treatment due to financial constraints.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
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