Here’s what you should know.
1. India’s drug pricing authority already has a cap in place for several heart-related medical devices. It plans to cap the price of three more devices used for heart ailments. The agency said the devices are sometimes more expensive than the stent itself, according to a letter from the Indian government.
2. India’s medical device market is valued at $5 billion. Companies like Abbott Laboratories and Boston Scientific Corp., entered the market to capitalize. However, the concept of price caps left them with “shivers.”
3. A U.S. trade representative went to India to petition the government to not expand the price cap program, but the government declined.
4. An unnamed Indian official said to Reuters, “This position will not change, it is within the right of the government of India.”
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