India’s Simmering Device-Pricing Controversy – Many Hues
An uneasy calm prevails in the medical devices sector in India following regulatory action to cap stent prices and, more recently, a price data-gathering initiative for certain other products. Is this just the lull before another, more turbulent storm that lies ahead for industry?
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India’s medical device pricing storm looks unlikely to abate any time soon, with another round of price caps on stents being enforced. The spotlight is also shining on the sharp variances in trade margins for catheters in the country.
US President Trump met with India Prime Minister Modi June 26 in Washington, DC. Trade barriers were one topic on the agenda, and lawmakers in Congress has suggested recent price caps placed on coronary stents in India as one specific issue that should get attention from the leaders.
US Trade Representative Robert Lighthizer told Senate Finance Committee Chairman Orrin Hatch, R-Utah, that if India's ongoing practices to impose price controls on US device imports continue, he would consider "enforcement actions," if India's actions violated any World Trade Organization trading rules.