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NPPA Revises Ceiling Price Of Coronary
Stents In Tune With WPI Growth
The National Pharmaceutical Pricing Authority (NPPA) has
revised the ceiling prices of coronary stents with effect from the beginning of
April, 2024, in tune with the Wholesale Price Index (WPI) change for the year
2023 over the previous year.
The Authority notified revised ceiling prices of 923
scheduled formulations with effect from April 1, 2024, in tune with the change
in terms of the Wholesale Price Index announced for the preceding calendar year
of 2023 over the year 2022. The prices have been revised to the tune of 0.00551
per cent from the beginning of April, 2024.
The price of bare metal stents, according to the revised
order, will be Rs 10,509.79 per unit, while the drug eluting stents (DES)
including metallic DES and bioresorbable vascular scaffold (BVS)/biodegradable
stents will have the revised price of Rs. 38,267.18 per unit.
The Authority directed that all the existing manufacturers
and importers of Coronary Stents having maximum retail price lower than the
revised ceiling price (plus Goods and Services Taxes as applicable, if any), may
revise the existing MRP of coronary stent, on the basis of WPI @ 0.00551% for
the year 2023 over 2022 in accordance with the provisions of the Drugs Prices
Control Order (DPCO), 2013.
As per Para 24(4) of DPCO 2013, every retailer and dealer
shall display price list and the supplementary price list, if any, as furnished
by the manufacturer or importers, on a conspicuous part of the premises where he
carries on business in a manner so as to be easily accessible to any person
wishing to consult the same.
"The manufacturers not complying with the ceiling price and
notes specified hereinabove shall be liable to deposit the overcharged amount
along with interest thereon under the provisions of the Drugs (Prices Control)
Order, 2013 read with Essential Commodities Act, 1955," said the order.
It may be noted that the Union ministry of health and family
welfare (MoHFW) has notified inclusion of the Coronary Stents in the National
List of Essential Medicines (NLEM) 2015 and 2022, based on recommendations by
the expert committee constituted to review and revise the list based on
requirement.
The sub-committee which recommended the inclusion of coronary
stents in the NLEM 2015, said that the inclusion was considering the high burden
of coronary artery disease (CAD) in the country, which is associated with high
morbidity and mortality, and that the coronary artery disease is a public health
problem.
Although, medical devices are different from drugs in respect
of their nature, mechanism of action, manufacturing, quality control, mode of
administration/implantation, etc, coronary stents are among the categories of
medical devices which have been notified by the government of India as “Drug''
under the provisions of the Drugs and Cosmetics Act, 1940.
The NLEM 2022 was included in the Schedule I of the DPCO,
2013, following the release of the List, and the NPPA initiated measures from
the end of the year 2022, to revise or fix the ceiling price of the drugs based
on the revised Schedule.
https://www.pharmabiz.com/NewsDetails.aspx?aid=168886&sid=1
May 3, 2024
Kotak Alt To Invest Rs 400 Crore In
Medical Device Maker Biorad Medisys
Synopsis
Kotak Strategic Situations India Fund II (KSSF II) managed by
Kotak Alternate Asset Managers Limited (Kotak Alt) announced investing up to Rs
400 crore in medical device manufacturer Biorad Medisys. The investment will
primarily facilitate a new manufacturing plant setup, debt repayment, and
increased working capital.
Biorad Medisys will primarily utilise the investment from
KSSF II to set up a new manufacturing plant, repay existing debt and fund
increasing working capital requirements.
Established in 1999, the company makes orthopedic implants
for knee and hip and surgical and consumables focused on urology,
gastroenterology and neuro- vascular intervention through its manufacturing
facilities at Pune, and Bengaluru.
The company sells its products in India and countries across
geographies like Latin America, Europe, Southeast Asia and Middle East.
“The Indian medical devices industry is at an inflexion
point, with increasing demand for quality healthcare along with the Government’s
support for domestic manufacturers through the ‘Make in India’ campaign, we
believe that Biorad Medisys is well poised to capture this growth over the
coming years,” said Eshwar Karra, CEO, KSSF.
“We will now strive to scale the business to newer heights
through sustainable value creation and providing best-in-class quality and
performance,” said Jitendra Hegde, MD, Biorad Medisys.
KSSF II is a $1.5 billion fund with focus on providing
solution capital across growth and value creation situations.
https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/kotak-alt-to-invest-rs-400-crore-in-medicaldevice-maker-biorad-medisys/articleshow/110119178.cms
May 14, 2024
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