Can India make cancer care more affordable? | In Focus Podcast
The Supreme Court of India has criticized the high profit margins on essential cancer medications, labeling the pricing as exploitative. The discussion highlights the growing burden of cancer in India and the lack of adequate health insurance for the majority of the population.
Why it matters
High out-of-pocket medical expenses are a leading cause of financial distress for Indian families, making the regulation of drug pricing a critical public health issue.
The Supreme Court has called out the rampant profiteering in the healthcare sector, including cancer medication. Terming the overpricing of essential cancer medicines as “broad, daylight dacoity”, the court said, “This is carnage. Plain and simple. The cancer drug is priced at an MRP of Rs 27,000 despite being supplied to retailers for Rs 2,700.” Ten times higher markup! It also suggested capping the profit margin for all medicines at 16%.
India’s cancer burden is growing at an alarming rate. Every year, we record 15.6 lakh new cancer cases, and 9 lakh deaths due to cancer. More than 90% of India’s working population doesn’t have a stable or formal employment. A majority of them are not adequately covered by health insurance. Taken together, this means high out of pocket expenditure for treatment, which imposes a huge economic burden on the patient’s family.
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