As a result of price restrictions imposed by the National Pharmaceutical Pricing Authority (NPPA), India's drug pricing regulator, earlier this year, many multinational stent manufacturers are considering withdrawing their products from high Range of the country by citing "non-viability".
Two major players, Abbott and Medtronics, have already applied to the NPPA to remove some of their premium stents.
The regulator also imposed strict standards on margins, discounts and other offers that companies often used to push the sale of their products, especially high-end and expensive products.
Abbott, which sought to remove its dissolvable stent premium Absorb and Xience Alpine from India, cited "commercial unsustainability" as the reason. Abbott said it was "disappointed that the NPPA concluded that there was no differentiation in coronary stent technology." It added that, although he considered the possibilities of making Alpine and Absorb available in India in a sustainable manner, given their higher manufacturing costs and other associated costs, "it is not sustainable". February, NPPA capped the prices of bare metal stents at Rs 7,260, while the MRP of drug eluting stents (DES) and biodegradable stents was set at Rs 29,600.
After the ceiling, Abbott's Absorb prices, which cost Rs 1.9 lakh each time earlier, and Xience Alpine, at the price of Rs 1.5 lakh until February 14, were cut to Rs. 29,600.
Medtronics stated that its "decision to withdraw or introduce products is made only after all guidelines and standards established by the government have been taken into account". "We regularly review our product portfolio in the ordinary course of trade. Based on this review, we have submitted a request for withdrawal of Resolute Onyx under the provisions of the drug price control order, "said Medtronic.
While these companies have sought to remove their high-end products, many other products from these manufacturers will continue to be available here. Industry leaders argue that withdrawal could be part of business strategies as many companies sell similar products with additional changes under different brand names and pricing models to capture all segments. "Price differentials in a particular market are likely to affect prices and brands in various other markets. This could be part of a business strategy to save similar brands in other markets," 'industry executive said.
