Home / Healthcare/ India cuts stent prices by more than 7%

India cuts stent prices by more than 7%


Comments / {{hitsCtrl.values.hits}} Views / Thursday, 15 February 2018 00:02


NEW DELHI (Reuters): India has cut prices of some stents by about 7.6%, a government body said on Monday, in the latest setback for the country’s $5 billion medical device industry.

Prices of Drug Releasing Stents – small wire-mesh structures used to treat blocked arteries – have been slashed to 27,890 rupees ($433.82), from 30,180 rupees, the National Pharmaceuticals Pricing Authority of India said in a statement.

Last year, India set a price cap for stents by slashing prices that patients pay for some devices by about 75%, a major escalation in a showdown between large medical device makers and Prime Minister Narendra Modi’s government.

Companies such as Abbott Laboratories and Boston Scientific sell heart stents in India.

 “This wasn’t expected,” said Probir Das, chair of the medical devices forum at Indian industry lobby group FICCI. “Industry discussions with the government had created an expectation that the prices would be increased for some stent varieties.”

After last year’s decision, Abbott and Medtronic had filed for withdrawal of some of their stents from India, but Modi’s government rejected their requests, saying it contravened the nation’s drug laws.

India has in recent years taken a more aggressive stance against multinational healthcare companies, announcing price curbs on drugs used to treat critical ailments such as cancer, HIV/AIDS and diabetes.

 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Relevance of brand valuation?

Thursday, 22 November 2018

Another iconic global business leader has been exposed. Greed, both personal and corporate, it seems is the root cause. This mirrors the conduct of many political leaders around the world. Is it time to have much greater checks on CEOs, may be power-


JVP and minorities: Towards a third way

Thursday, 22 November 2018

As Sri Lanka moves toward a political show down between the UNP and SLFP/SLPP traditional political rivals, there is a third force with great potential strength emerging as a decider in any final outcome, provided that force remains united. By this


Reaching global quality standards through Deming Award

Wednesday, 21 November 2018

The importance of quality in the contemporary competitive business environment cannot be over-emphasised. Total Quality Management (TQM)is a company-wide, all pervasive management philosophy, which organisations globally, in many business sectors hav


Ramsar accreditation of Colombo Wetlands: Rebranding Colombo as a Wetland City

Wednesday, 21 November 2018

Colombo, once known to be “kolonthota,” has always been identified as a wetland complex at the heart of the Kelani river delta. Today this city is increasingly drying up, with around 20 sq km left as wetlands which continue to be threatened every


Columnists More