Abbott Denies Reports It's Pulling Its High-End Coronary Stents From India’s Market
Abbott 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 and $442 (Rs 29,600) for drug-eluting and bioresorbable stents like Abbott’s Absorb, which sells for $2,835 (Rs 190,000) in India.
That prompted Indian media reports that Abbott would pull its high-end drug-eluting stents and the Absorb device, which hit the Indian market in 2012 and is the only resorbable stent available there.
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 and $442 (Rs 29,600) for drug-eluting and bioresorbable stents like Abbott’s Absorb, which sells for $2,835 (Rs 190,000) in India.
That prompted Indian media reports that Abbott would pull its high-end drug-eluting stents and the Absorb device, which hit the Indian market in 2012 and is the only resorbable stent available there.