Medtech firms, India locked in tussle after stent price sting
29-Apr-17, ET Healthworld
A group of global medical-technology companies plans to tell Indian officials that any further price control measures would risk future investments and make them less likely to introduce new products in the country.
%20ET%20Healthworld.jpg "Medtech firms India locked in tussle after stent price sting (c) ET Healthworld")
Image: ET Healthworld
The lobbying effort by Abbott Laboratories, Boston Scientific, Johnson & Johnson and others comes after the government set a price cap for stents, slashing prices that patients pay for some devices by about 75 percent.
That has sparked a growing showdown between the companies and Modi's government in India, where the med-tech sector is worth USD5 bn. Abbott and Medtronic filed for withdrawal of some of their stents from India, but the government rejected their request, saying it contravened the nation's drug laws.