India’s National Pharmaceutical Pricing Authority cut prices on stents yet again, dropping the cost of certain stents by about 7.6%, according to a Reuters report.
This time, the prices on drug releasing stents were cut from approximately $469.60 (INR ₹30,180) to $433.82 (INR ₹27,890), according to the report.
The new price cap comes as somewhat of a surprise, as previous discussions between major players, industry groups and India’s NPPA indicated a willingness to revisit those price caps this February, with many assuming the caps would increase.
“This wasn’t expected. Industry discussions with the government had created an expectation that the prices would be increased for some stent varieties,” Indian industry lobby group FICCI medical device forum chair Probir Das said, according to Reuters.
The NPPA capped prices for drug-eluting stents and bioresorbable scaffolds last February, while also cutting the prices for all coronary stents by as much as 85%. The move was largely criticized by companies within the medical device industry.
Earlier this month, Indian medical device makers and trade associations voiced their opposition to price caps on stents and other devices imposed by India’s NPPA.