Indian Media Accuse Biggest Medtechs Medtronic, Inc., Abbott Laboratories, Johnson & Johnson Of Price-Hikes, Bribery

Some of medtech's biggest players are getting a beating in the Indian media, where reports this week accused them of turning a blind eye to unethical behavior from their distributors in the country.

A series of reports originating from the Times of India claim companies such as Medtronic (NYSE:MDT), Abbott (NYSE:ABT) and Johnson & Johnson (NYSE:JNJ) have looked the other way when their Indian distributors hiked prices for drug-eluting stents and then used the proceeds to bribe doctors.

The reports focused largely on Medtronic's devices, claiming the medtech giant let its distributors triple prices on imported DES:

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