The Narendra modi government has in recent years capped prices of hundred of life-savings drugs to make them more affordable. A group of US lawmakers has backed medical device makers by urging India to reconsider its decision to cap of heart stents,rising the issue ahead of Prime minister Narendra Modi's visit to the United States later this week. In a letter sent to the Indian ambassador to Washington last month,and seen by sources,18 members of congress said they were 'troubled' by the price cap,warning that it could deter firms from launching new medical products in India. The government justified its action by citing "huge unethical markups".But global medical device makers have protested the new cap,with some saying it would force them to sell below cost. The lawmakers warned that people would be denied access to the latest medical advances if companies backed away from India's $5 billion medical market.
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June 19, 2017
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