Union government moves to regulate price of medical devices

Considering controlling/reducing the prices of stents, catheters and implants, minister informs Lok Sabha

By Kundan Pandey
Last Updated: Wednesday 23 December 2015 | 10:10:51 AM
Catheter Credit: Flickr
Catheter Credit: Flickr Catheter Credit: Flickr

Like life-saving drugs, the Union government is moving towards regulating the price of medical devices too, Union Minister of State for Chemicals and Fertilizers, Hansraj Gangaram Ahir revealed recently.

In a response given to the Lok Sabha, the minister said that the government was considering controlling/reducing the prices of medical equipment like stents, catheters and implants.

Ahir said that a meeting of the Committee of Secretaries was held under the chairmanship of Cabinet Secretary P K Sinha to discuss the mechanism for a separate price control order and a separate vertical within National Pharmaceutical Pricing Authority (NPPA) for medical devices.

Following the meeting, the Department of Pharmaceuticals called its own meeting with the representatives of various leading manufacturers of medical devices. After detailed deliberations, a decision was taken that all manufacturers of stents/implants would provide information regarding “Price to retailer” and “Maximum Retail Price” in Form V appended to Drugs (Prices Control) Order, 2013, to the NPPA. They were supposed to follow the instruction positively by November 30, 2015.

Ahir said that the manufacturers were supposed to voluntarily propose a reduction in the marketing expenses of the products and consequentially on the MRP. They were supposed to do it in the first week of December.

Ahir added that the Department of Pharmaceuticals might consider issuing a letter to industry associations to consider voluntary disclosure and self-regulation of marketing expenses.

Subsequent to this, the self-regulation by the industry would be reviewed on the basis of information submitted by the industry to NPPA in Form V and a decision on statutory regulation would be taken subsequently.

Subscribe to Weekly Newsletter :

Related Story:

Modi Cabinet approves 100% FDI in medical devices sector via automatic route

India to get medical devices parks

We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.

Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.