Medical devices companies to soon have 'unique' pricing model
NPPA) expert committee is studying the existing price regulations prevalent in other countries to come out with a «unique» pricing mechanism for manufacturers of medical devices in India, people in the know told ET.
At present there is no separate pricing framework followed for medical devices. The government has been using the same framework which was created for drugs in case they want to regulate the price of any medical device. Earlier, it had regulated the prices of stents and knee implants under the Drug Price Control Order.
The NPPA along with officials in the department of pharmaceuticals (DoP), India's drug regulatory authority, and others have been deliberating on the issue and studying the pricing framework followed by other countries.
«The expert committee has been studying the frameworks used in other countries. Since the same cannot be replicated, India is going to have a unique pricing framework which is best suitable for the consumers and the industry alike,» a senior person in the government, said.
The mandate of the committee is to examine the prevailing regulatory framework in the country and suggest one for pricing of medical devices. «The pricing framework has to be unique for India. It is a price-sensitive country and hence all the factors must be kept in mind,» added the official.
The availability and affordability of medical devices will be cornerstones of the pricing policy, at the same time it will also ensure that it provides incentives to the industry to grow, the same official said.
