Medtronic announced that it opened a new global IT center at its facility in Hyderabad, India. The company said in a LinkedIn post that it invested $60 million in the new IT center, which is located at the Medtronic Engineering and Innovation Center in Hyderabad. Medtronic expects to hire around 300 new employees over the […]
India
Boston Scientific opens new R&D center in India
Boston Scientific (NYSE:BSX) has opened its second R&D center in India, located in the western city of Pune. According to media reports, the new center is 45,000 ft² and will initially employ 170 people, more than doubling the number of R&D employees that Boston Scientific has in India. The company’s first Indian R&D center opened […]
Medtronic kicks off newly expanded R&D center in India
Medtronic (NYSE:MDT) today announced the inauguration of its newly expanded 150,000 ft2 Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, India. The Fridley, Minn.–based medical device giant is spending $160 million over five years to turn Hyderabad into its largest R&D center outside the U.S. Medtronic expects the number of employees at the facility to […]
Stents, knee implants undergird Trump’s new trade war with India
The Trump administration yesterday opened hostilities in a pair of new trade wars, using India’s price caps on coronary stents and knee implants as the centerpiece of the new policy there. The White House said it plans to end India’s preferential trade status in 60 days under the Generalized System of Preference. “India’s termination from […]
Report: Trump admin directs USTR to monitor foreign country device, pharma price caps
The President last week ordered the US Trade Representative to take under consideration countries which are implementing price controls on American pharmaceuticals and medical devices, according to a Financial Express report. President Trump referred to such prices controls as unjustified and at the expense of America’s R&D, and implied that the US could no longer […]
India proposes caps on use of imported med devices, priority for local makers
India’s government is proposing new regulations that could set significant caps on medical devices imported into the country, according to a new set of draft guidelines from the country’s Department of Pharmaceuticals. The new regulation would require that 50% of all medical disposables and consumables and 40% of all implants be produced locally, according to […]
India’s medical device industry protests NPPA stent price caps
Indian medical device manufacturers and associations are voicing their opposition to price caps on stents and other devices imposed by India’s National Pharmaceutical Pricing Authority, according to a report from the Economic Times India. The price cap has reportedly left little to no room for innovation in the country, with industry groups now demanding an […]
Report: US pressuring India to halt price caps, allow market withdrawals
The US government is pressuring India to halt the extension of price caps on medical devices and to allow businesses to withdraw their products from the market if they don’t want to sell at those rates, according to a report from The Hindu. The push came from a senior US Trade Representative, according to the […]
India institutes price caps for orthopedic knee implants
Updated to include comment from the Association of Indian Medical Device Industry. Indian regulators are capping prices of orthopedic knee implants as the country looks to lower the cost of medical devices. The country’s drug pricing authority said today that orthopedic implants in the country had unjustified, unreasonable and irrationally high trade margins, which led […]
Medtronic, Abbott could still seek exit from India’s high-end stent market
Updated to include extra information on company plans for the market. Medtronic (NYSE:MDT) and Abbott (NYSE:ABT) could take another run at taking their high-end stents off the Indian market, after the Indian National Pharmaceutical Pricing Authority this week rejected their applications to withdraw. Abbott, Boston Scientific and Johnson & Johnson (NYSE:JNJ) have said they plan to tell Indian officials […]
Abbott denies reports it will bail on India’s high-end stent market
Abbott (NYSE:ABT) yesterday denied reports that it’s pulling its high-end coronary stents from India’s market, after the government there put price caps in place for a variety of medical devices and drugs, including stents. India’s National Pharmaceutical Pricing Authority last week issued an order capping the price of stents at about $108 (Rs 7,260) for bare-metal devices […]
