Move to cap prices of medical devices in India rankles industry
18-Oct-17, Financial Express
Prices of cardiac stents and knee implants have been cut up to 70-80% from their previous price-points. This move has sounded alarm bells for the industry, and has the potential to undermine the prospect of future foreign investments in the sector.
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Image: Times Now
Attempts by multinationals to withdraw their products from the market after the price cap announcement, have been blocked by the price regulator.
Further, a recent proposal on putting a ban on gelatin capsules and, instead, introducing vegetarian capsules caused alarm among Indian drug manufactures. The move will have the effect of paralysing not only the business of pharma companies, but also putting the life of patients at risk if it fructifies.