GST SLASHED ON 3 CANCER DRUGS
The recent decision by the Indian government to reduce the Goods and Services Tax (GST) on three cancer drugs from 12% to 5% is a significant step towards making life-saving treatments more affordable for patients.
Here’s how this reduction will benefit individuals battling cancer:
- Reduced Financial Burden: A lower GST rate directly translates to a reduced cost of these medications. This can alleviate the financial strain on patients and their families, especially those who may have already exhausted their savings due to the high cost of cancer treatment.
- Improved Access to Treatment: With decreased costs, more patients may be able to afford these essential drugs, ensuring they receive timely and effective treatment. This can potentially improve outcomes and survival rates.
- Enhanced Quality of Life: Timely access to cancer treatments can significantly improve patients’ quality of life. By reducing the financial burden, the government is helping to ensure that patients can focus on their recovery without the added stress of financial worries.
List of Drugs:
| DRUG NAME* | OLD PRICE | NEW PRICE |
|---|---|---|
| Trastuzumab deruxtecan | Rs 3,49,800 per vial | around Rs 3,29,800 – Rs 3,34,500* |
| Osimertinib | Rs 1,17,500 for 3 strips | around Rs 97,500 to Rs 1,02,500* |
| Durvalumab | Rs 1,57,000 per pack | around Rs 1,37,000 to Rs 1,42,000* |
These anti-cancer medicines are immune and targeted therapies. (Source: www.indiatoday.in)
If the entire GST reduction is passed on, patients could see a decrease in drug prices by approximately 7% (from the GST rate cut of 7%).
It does represent a significant improvement in affordability and accessibility for many patients.
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