India's Caps On Cardiac Stent Pricing Angers Industry

21 Jul 2016

• By Penelope MacRae

India has brought cardiac stents under price controls after an advisory body to the health ministry contended there was “huge exploitation” of patients by the medical devices industry. The move drew strong criticism from industry which said the decision “does not bode well” for Prime Minister Narendra Modi’s stepped-up drive to attract foreign investment.

The government of India has added all types of coronary stents to the National List of Essential Medicines (NLEM). The July 19 notice, issued by joint health ministry secretary K.L. Sharma, took “immediate effect” and is the latest effort by the government to improve the affordability of medical treatment in the country, where the majority of people live on less than $2 a day and few have any health care insurance.

The announcement has already drawn a stiff response from industry which said capping prices could stop manufacturers from introducing new,...