Medical devices sector needs separate rules, says industry body AiMeD

  • IANS
  • Stock Market News
Medical devices sector needs separate rules, says industry body AiMeD
Credit: © Reuters.

Chennai, April 24 (IANS) The Association of Indian Medical Device Industry (AiMeD) welcomes the Indian government's decision to review the regulations controlling drug prices, which will cover include medical devices too, an association official said. "We're happy that the Indian government plans to review the regulations controlling drug prices, which will now include medical devices too. As the main association for the medical device industry in India, we're pleased to be part of the discussion," AiMeD's forum coordinator Rajiv Nath told IANS.

He said the government has decided to expand the list of special invitees for the committee constituted for Reforms in the Pricing Framework for Drugs and Medical Devices.

As per the order issued by the Department of Pharmaceuticals, 12 more organisations representing the pharma and medtech industries have been invited as special invitees to the Committee.

"We believe that medical devices need separate rules. We want to encourage fair marketing based on quality and value, not on pushing products with high profit margins. For a while now, we've been asking for rules that stop companies from artificially raising prices on medical device labels. This practice hurts honest manufacturers and marketing companies. Instead, we want fair competition based on the real value of the products, not inflated prices," Nath added.

--IANS

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