India slashes cost of cancer drugs after court rules mark-ups are 'extortion'

India is cutting prices for cancer drugs after the Supreme Court criticized markup practices as “extortion,” following a case filed by a patient who could not afford treatment. Starting next month, 137 cancer medicines will be cheaper as the government imposes a cap on trade margins beyond a previous 30% limit that covered only 42 drugs. The trigger case involved Sarojam Radhakrishnan, a retired bank clerk in Kerala, whose breast cancer treatment in 2021 required targeted drugs costing more than 63,000 rupees (£500) per month. In a 29 September hearing, judges Vikram Nath and Sandeep Mehta cited examples where a hospital-supplied drug priced at 2,700 rupees was marked up to 27,000. The government expects reductions up to 70% and estimated annual savings of 2,500 crore rupees (£199m) for patients.