J&J blames price cuts in India for poor knee-implant business
18-Oct-17, ET Healthworld
Drug giant Johnson & Johnson took a USD10 mn (INR65 crore) hit on its international knee implant business in the July-September quarter, which it blamed on price cuts in India.
%20ET%20Healthworld.jpg "JnJ blames price cuts in India for poor knee implant business (c) ET Healthworld")
Image: ET Healthworld
The US company called India’s decision to limit prices of stents and knee implants one of the "extreme examples of what it has seen in other marketplace."
The company's medical device business saw the knee implant business decline to USD343 mn from USD355 mn for the third quarter through September. Revenue in the segment’s international business, which includes India, fell to USD122 mn from USD132 mn.