India's drug price regulator raised ceiling rates for two key platinum-based cancer drugs by 50% after a surge in raw material costs triggered widespread shortages, according to a government notification seen by Reuters.
The National Pharmaceutical Pricing Authority invoked special provisions to raise rates for the drugs after receiving federal government approval citing public interest, according to the notification dated June 11.
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.
The prices of the drugs, used to treat ovarian, lung and bladder cancers, are capped and controlled by the government.
The ceiling rate for cisplatin was raised to 10.89 rupees ($0.1144) per ml from 7.26 rupees, while that for carboplatin was increased to 90.74 rupees ($0.9530) per ml from 60.49 rupees excluding taxes, the notification showed.
"... The authority noted concerns regarding shortage and supply disruptions of carboplatin and cisplatin formulations, which are essential oncology medicines used in the treatment of various cancers," the NPPA said, adding that their uninterrupted availability is critical for public health.
The drugs are manufactured by several companies, including Cipla, Intas Pharmaceuticals and oncology-focused firms such as Naprod Life Sciences and Venus Remedies.
The increase is a one-time revision and will be reviewed after six months, the NPPA said.India is heavily dependent on imported platinum, which is used in industries ranging from automobiles and jewellery to chemicals and pharmaceuticals.
Supplies of the white metal from key producers such as South Africa have dwindled amid soaring costs, while the Middle East conflict has further disrupted supply chains and raised manufacturing expenses, doctors and industry executives have told Reuters.
The increase on drug price caps offers relief to medicine makers who had temporarily halted production as platinum prices more than doubled amid tight supplies, strong demand and shrinking inventories.
