June 11 (Reuters) – India has given the go-ahead to a regulator for raising prices of platinum-based cancer drugs that have been in short supply due to a spike in raw material costs, according to a letter seen by Reuters.
Patients in the world’s most populous country have been grappling with shortages of platinum-based cancer drugs cisplatin and carboplatin, as hospitals, especially government-run facilities, run short.
Prices of the drugs, used to treat cancers of the lung, ovaries and gall bladder, are capped by the government.
India’s department of pharmaceuticals, a part of the chemicals ministry, approved the National Pharmaceutical Pricing Authority’s request for revision of prices of these drugs in a letter dated June 7.
The regulator had sought approval to raise prices under exceptional provisions of the law that can be used in public interest, according to the letter.
“The government has approved a price increase. The final decision will be taken by NPPA as it is an independent regulatory body which works under the government,” a government source told Reuters on the condition of anonymity.
Platinum prices have more than doubled, according to industry experts, driven by constrained supply, robust demand and dwindling inventories as the metal replaces palladium in automotive applications.
Drugmakers had temporarily halted production of cisplatin and carboplatin as they were unable to secure platinum-based raw materials or pass on higher costs to consumers.
A range of generic drugmakers make these platinum-based chemotherapy drugs, including Cipla (CIPL.NS), opens new tab, Intas Pharmaceuticals , and oncology specialists such as Naprod Life Sciences and Venus Remedies (VENR.NS), opens new tab.
India has also approved price increases for two anti-tetanus immunoglobulin injections because of a rise in active pharmaceutical ingredient costs, according to the letter cited above.
The pharmaceuticals department did not respond to requests for comment.
Source : Reuters
