He said so at a meeting of the council of non-communicable diseases.
The minister said that more than Rs. seven billion is spent annually to import medicines.
Medicines prescribed for cancer treatment is very costly, and a price reduction will save Rs. two billion to the state, he said.
The prices of 10 cancer medicines will be reduced.
He also said the per cancer patient treatment expenditure has been raised from Rs. 1.5 million to Rs. 45 million.