Category: Emerging Markets
India mulls instituting a maximum retail price cap on medical devices in the wake of price gouging allegations against some of medtech's largest players.
Indian regulators may impose price control measures on such medical devices as stents, catheters and implants in response to allegations of price gouging and bribery, according to a report in the Business Standard.
India's health ministry and department of pharamaceuticals are considering a maximum retail price cap under the National Pharmaceutical Pricing Authority, which monitors the price of 348 medicines deemed essential, the Indian newspaper reported.
Media reports in India claim that some of medtech's biggest companies are looking the other way when their Indian distributors hike prices and bribe doctors to use their drug-eluting stents.
Some of medtech's biggest players are getting a beating in the Indian media, where reports this week accused them of turning a blind eye to unethical behavior from their distributors in the country.