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In order to cut prices of patented medicines for cancer and rare diseases, a government panel in India has made a series of recommendations including granting "compulsory licenses" to any domestic pharmaceutical company to produce drugs without the consent of the patent holders, reported The Economic Times.
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"The committee after a detailed analysis has come to the conclusion that it is important to put in place an effective mechanism to regulate the prices of patented medicines in India," it's report stated.
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The report recommended putting a ceiling price on life-saving medicines after analysing the Purchasing Power Parity of various countries, a standard followed in majority of the western world to fix medicine prices, the news source said.
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The committee noted that the prices of patented anti-cancer and antifungal drugs are "on the higher side" and cited the example of Rs 1 lakh being the price for just one injection for cancer treatment.
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It said there is a need to moderate the prices of patented anti-diabetic drugs and also recommended that patent owning companies should be "encouraged" to give "voluntary licenses" to other pharmaceutical companies.
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Moreover, it has stated that the Indian government should explore procurement of more drugs at lower rates for public healthcare systems through negotiations with pharmaceutical companies.
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