India’s Department of Pharmaceuticals has stopped Abbott (NYSE:ABT) from pulling its Xience Alpine drug-eluting coronary stent from the market.
The move is a reversal from the National Pharmaceutical Pricing Authority’s decision last month to allow Abbott to withdraw the device over a one-year period.
Last week, the DoP said it invoked powers described in the Drug Price Control Order of 2013 and that companies making coronary stents must produce an uninterrupted supply for three months from the date of notification.
The government agency also reportedly declared that Abbott must submit a weekly report on the coronary stents that it makes and distributes, as well as a weekly production plan to the NPPA and Drug Controller General of India, according to Business Standard.
Last month, the NPPA pushed back against Abbott’s argument that selling the device in India was not viable after the maximum prices of drug-eluting stents were capped.
“The Authority, accordingly, examined the whole issue and found that the import cost of Alpine brand is less than the ceiling price and adequate margins are there, so the reason of unviability of sales in India is not understandable,” the NPPA said in prepared remarks.
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