Indian pharmaceutical firm Cipla has announced a massive 76 percent price cut for some of its cancer drugs that are used to treat lung, brain and kidney cancers.
The decision comes just two months after the Patent Office in the country allowed Natco to manufacture generic version of Bayer's Nexavar drug that was exclusively used to treat advanced kidney cancer.
Cipla has announced that a month's dose of its generic drug, Soranib, will now be available for just Rs 6,840 instead of more than Rs 28,000 while it has also reduced prices of its lung cancer drug Gestinib and a brain tumor drug Temozolomide.
Cipla chairman Y K Hamied said that the decision was taken as part of a humanitarian approach by the company and added that it will help relieve the financial burden on the patients. "This initiative of price reduction is a humanitarian approach by Cipla to support cancer patients. Drugs constitute a significant proportion of the overall cost of cancer treatment and reduction in costs can greatly relieve the burden", he said.