Indian regulators reportedly warned medical device companies that their “last opportunity” to submit data on pricing ends in two weeks, eight months after issuing the original deadline.
India’s National Pharmaceutical Pricing Authority has already slapped price caps on stents and other devices and is auditing alleged hospital overpricing on stenting procedures; last month the NPPA flagged the country’s hospitals for “unethical profiteering” from “exorbitant” markups – some as much as 2,000% – for commonly used medical devices.
Now the agency has given medtech makers until March 15 to provide the pricing data on their products or face the revocation of their license to sell in India, according to Pharmabiz.com.
Manufacturers of 19 medical devices that fall under the NPPA’s purview were supposed to have submitted the data by the end of May 2017, which was extended into June, the website reported. Prices for those devices, including disposable syringes and needles, catheters, intraocular lenses and orthopedic implants, must not increase by 10% annually under Indian law, according to the site.
The NPPA threatened to ask India’s Central Drugs Standard Control Organization to revoke the licenses of any firms that fail to provide the price data, Pharmabiz reported.