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Abbott pulls Xience Alpine drug-eluting stent from Indian market

April 27, 2018 By Sarah Faulkner

AbbottAbbott (NYSE:ABT) reportedly stopped selling its Xience Alpine drug-eluting coronary stent in India this week in response to price caps set by the National Pharmaceutical Pricing Authority.

A spokesperson for the healthcare firm said in a statement that Abbott “fulfilled all the requirements to discontinue selling its Xience Alpine drug-eluting stent in India as of April 26,” according to Business Standard.

Last year, India capped the price of coronary stents, cutting prices by as much as 75% for metal, drug-eluting and bioresorbable stents and setting limits on trade margins, discounts and other promotions used on higher-end products.

After the price caps were set, Abbott revealed that it also wouldn’t launch its next-gen drug-eluting stent, the Xience Sierra, in India. The company’s everolimus-eluting coronary device is designed to allow cardiologists to treat complex lesions. It features a thinner profile, increased flexibility and longer lengths than previous stents.

Abbott isn’t the only medtech giant that sought to pull its stent from India – Medtronic (NYSE:MDT) and Boston Scientific (NYSE:BSX) have both asked the government if they can pull their devices from the market.

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Filed Under: Drug-Device Combinations, Featured, Pharmaceuticals, Vascular, Wall Street Beat Tagged With: abbott, Boston Scientific, Medtronic

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