Cancer Drug Manufacturers Request 50% Price Increase Amid Platinum Surge
Cancer drug makers seek 50% price hike as platinum surge hits production viability
The Economic TimesImage: The Economic Times
Local drug manufacturers in India are seeking a 50% price hike for cancer medications like carboplatin and cisplatin due to a surge in platinum prices, which have nearly doubled over the past six months. This price increase is essential to maintain the viability of producing these critical treatments.
- 01Manufacturers claim platinum price surge has made cancer drug production unviable.
- 02Current ceiling price for carboplatin is ₹61.10 per 10 mg/ml vial.
- 03Platinum prices have risen from ₹3,869 to ₹8,000 per gram in six months.
- 04Platinum-based drugs are crucial in treating various cancers and are under government price controls.
- 05The market for platinum-based drugs is estimated at ₹110 crore, growing at 14% annually.
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Manufacturers of cancer drugs in India, including companies like Cipla and Dr Reddy's Laboratories, are urging the National Pharmaceutical Pricing Authority to approve a 50% increase in the maximum selling price of essential medications such as carboplatin and cisplatin. The request stems from a significant rise in platinum prices, which have surged from ₹3,869 to ₹8,000 per gram in just six months due to geopolitical uncertainties. This price increase is critical as the current ceiling price for carboplatin, set at ₹61.10 per 10 mg/ml vial, has become commercially unviable. Industry executives warn that without government intervention, the profitability and availability of these essential first-line cancer treatments could be at risk. Platinum-based drugs are vital in treating various cancers and have been under government price controls since 2013, with minimal price increases over the years. The market for these drugs is currently valued at ₹110 crore, growing at 14% annually, but actual sales may be much higher due to significant institutional sales.
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If the price increase is not approved, the availability of essential cancer medications may decline, affecting patients' treatment options.
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