Drug major Cipla today slashed the prices by up to 76% of its generic drugs, used in treating cancers of brain, lung and kidney.
The price of 'Soranib' used for treating kidney cancer has been cut by 76% to Rs 1,710 "for a month's therapy", from Rs 6,990, Cipla said in a statement.
Brain cancer drug 'Temoside' in 250 mg strength would be available at Rs 5,000 against Rs 20,250 earlier. While lung cancer drug 'Gefticip 250 Mg' in packs of 30 tablets is priced at Rs 4,250 against Rs 10,200.
The move comes on the back of the government permitting domestic firm Natco Pharma to manufacture and sell cancer treatment drug Nexavar at a price over 30 times lower than charged by its patent-holder Bayer Corporation.
In an order by Controller of Patents in March Natco was allowed to sell the drug at a price not exceeding Rs 8,880 for a pack of 120 tablets required for a month's treatment as compared to a whopping Rs 2.80 lakh per month charged by Bayer for its patented Nexavar drug.
Commenting on the development, Cipla Chairman and MD YK Hamied said: "This initiative of price reduction is a humanitarian approach by Cipla to support cancer patients".
Drugs constitutes a significant proportion of the overall cost of cancer treatment and reduction in costs can greatly relieve the burden, he added.
Cipla's brain cancer drug 'Temoside' in the strengths of 20 mg, 100 mg, and 250 mg will now be available at Rs 480, Rs 2,400, and Rs 5,000, respectively, for a pack of 5 capsules. The earlier respective prices were Rs 1,875, Rs 8,900 and Rs 20,250.
The generic lung cancer drug 'Gefticip 250 Mg' in packs of 10 and 30 tablets will now be available at Rs 1,555 and Rs 4,250, as against their old prices of Rs 3,400 and Rs 10,200 respectively, it added.
The drugs for cancer treatment are being manufactured at its Goa manufacturing facility, which has been approved by WHO-Geneva, USFDA, MHRA-UK and other international regulatory bodies, Cipla said.
Shares of Cipla today closed at Rs 317.40 at BSE, down 0.02% from its previous close.