Saturday, 29 April 2017

Global med-tech firms, India locked in tussle after stent price sting

NEW DELHI / MUMBAI - A group of global medical-technology companies plans to tell Indian officials next month that any further price control measures would risk future investments and make them less likely to introduce new products in the country, according to an industry source familiar with the matter.


The lobbying effort by Abbott Laboratories, Boston Scientific, Johnson & Johnson and others comes after the government of Prime Minister Narendra Modi in February set a price cap for stents - small wire-mesh structures used to treat blocked arteries - 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 $5 billion. Abbott and Medtronic filed for withdrawal of some of their stents from India, but the government on Wednesday rejected their request, saying it contravened the nation's drug laws.

Recommendations on Share market and more go through our website from here link below and let us to know you more: http://www.ripplesadvisory.com/nifty-future-.php

No comments:

Post a Comment

Note: only a member of this blog may post a comment.