Intas Pharmaceuticals Ltd, on Wednesday, announced that it will cut down the prices of Bevacizumab drug by 60 per cent.
The company said that it will bring relief to a large number of cancer patients in India for whom the drug was out of reach until now.
The Intas Pharma therapy is now priced at Rs. 39,995 for the dose strength of 400 mg variant, which makes it 60 per cent less than the currently available options worth about Rs one lakh.
Every year over 7 lakh patients die due to various types of cancer in India, the company said in a statement here.
Bevacizumab slows down the growth of new blood vessels and is used in treating multiple cancers like colorectal, ovarian, cervical, lung and recurrent glioblastoma (a type of brain tumour).
The drug has been available in India since 2004 but the cost was prohibitive to most patients.
Intas Pharma has been growing at a 27 per cent CAGR over the last 5 years with an even stronger profit growth. Ranked No. 10 in the domestic market, the company is one of the top five in the Indian chronic therapy category.
The company is also present in more than 70 countries worldwide in markets like North America, Europe, Central and Latin America, Africa, Australia, New Zealand, Asia-Pacific as well as CIS and MENA countries.