Centre plans to slash prices of medicines for cancer, diabetes and heart diseases by 70%, announcement on August 15

NEW DELHI: Reports say that the Centre is planning to slash prices of medicines for cancer, diabetes and cardiovascular diseases. It is indicated that the central government has decided to bring down the prices by 70 %. However, there has been no official confirmation. It is heard the decision will be announced on Independence Day.

The center will be holding talks with the country's pharma companies on July 26. It it is indicated that the Center will show the account of drugs sold at higher prices in front of the companies. It has come to the attention of the central government that medicines for cancer are being sold at high prices. Kerala currently accounts for 17 percent of the country's pharmaceutical market. Therefore, Kerala will benefit the most in the change in prices. The prices of medicines like paracetamol, vitamins, diabetes and heart diseases were increased in April. The prices of more than 40,000 medicines had gone up in this way. There is presently 12 % GST on life-saving drugs and anti-cancer drugs. It is expected that if this comes down, the price will come down a lot. It is reported that the central government's instructions will be put before the pharma companies to reduce the price.