The US government has asked the Indian government not to cap prices of any more medical devices until the two jointly work out a "mutually beneficial" policy solution to address the Indian government's priorities related to patient costs.
A letter from US trade representative (USTR), Robert E Lighthizer, dated September 18 to commerce minister Suresh Prabhu and principal secretary to the PM, Nripendra Misra, said he was following up on specific concerns related to price controls on coronary stents that US Commerce Secretary Wilbur Ross and he had raised with PM Modi when he visited Washington in June.
Pointing out that controls had also been extended to orthopaedic implants, the USTR said the policy was "very troubling". He said the US was committed to working with India to identify a policy solution that will address Indian government's priorities relating to patient costs but would also promote trade, innovation, and access to most advanced technologies. "Until such a policy is developed, I urge you not to expand price controls to additional medical devices," he added.....Read more
Source web page:Times of India