Mon, May 29, 2017 | updated 05:06 PM IST

MTaI committed to fair, transparent mechanism of stent pricing that accounts for innovative nature of MedTech Sector

Updated: Jan 06, 2017 11:41 IST      
MTaI committed to fair, transparent mechanism of stent pricing that accounts for innovative nature of MedTech Sector

New Delhi [India], Jan 6 (ANI-BusinessWireIndia): The Medical Technology Association of India (MTaI) has been proactively and collaboratively working with the authorities in the process on pricing discussions over the past many months.

We are committed to have a fair and transparent mechanism of pricing which accounts for the innovative nature of the sector.

While we have been co-operating with all the authorities in these discussions, and our member companies were among the first to submit the required data, we are deeply concerned by seeing a selective outflow of altered pricing data in a few media reports this week. The reports selectively targeted only a few research-based companies while leaving a larger pool of more than 20 other companies out of the story.

We urge all the stakeholders to bring a broader perspective covering information about all other companies instead of discriminating against a few research-based companies.

The details of pricing as presented by MTaI members, as well as those that have been released in the press this week (if these are correct) point out to the vital importance of bringing all the constituents to the discussion table and place a process that drives accountability from all stakeholders, leading finally to the benefit of price reduction reaching patients.

A stent differentiation matrix mechanism, which would have helped differentiate different generations of drug eluting stents based on usage, safety data, publications and other measurable parameters, has been structured by MTaI in collaboration with leading cardiologists across India and submitted to the government for review. Done properly, a simplified version of this differentiation matrix can help define stent prices and also become a pioneering effort for other countries to implement.

MTaI believes that a nascent sector like medical devices which accounts for less than two percent of the overall healthcare sector of India; needs support with policies which encourage technology innovation, clinical evidence and strong quality management systems to ensure best patient outcomes.

Initiatives like 'Make in India' would lose on a major opportunity to generate highly skilled employment in absence of clear and rational policy framework.

A knee-jerk policy framework without accounting for innovation, will not only make India unviable to be a global destination for medical device manufacturing but will also reduce India's competitiveness to provide world-class and highly advance medical care to patient from India and abroad.

We appreciate the inclusive nature of the NPPA meeting agenda and hope our suggestions will be taken on board. We are willing to have the views we have put forth corroborated and the data we have presented verified and expect that the remaining quarters of the industry will come forward with their data by the new deadline of 9th January, 2017 as has been kindly extended by the Chairman NPPA for them. (ANI-BusinessWireIndia)

ED attaches 30 kg gold of J. Sekhar Reddy, associates

Updated: May 29, 2017 16:48 IST     

New Delhi [India], May 29 (ANI): The Enforcement Directorate (ED) on Monday provisionally attached 30 kg of gold bars worth Rs. 8,56,99,350 of J. Sekhar Reddy and his associates in lieu of the exchange of old notes to new currency notes under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).

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New Delhi [India], May 29 (ANI): In the backdrop of a re-branding drive, AWPL on Monday announced its new corporate identity, reflecting the company's transition to help enterprises in the insurance and banking industries to embrace transformation to the digital era.

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PSP Projects makes its debut; opens at Rs. 195

Updated: May 29, 2017 15:24 IST     

New Delhi [India], May 29 (ANI): Multi-disciplinary construction company PSP Projects on Monday witnessed a cut of seven percent as compared with the issue price of Rs. 210.

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HP and KPMG introduce 'GST solution' for traders, MSMEs

Updated: May 29, 2017 14:19 IST     

New Delhi [India], May 29 (ANI): HP India in collaboration with KPMG on Monday announced the launch of a comprehensive, secure and affordable invoicing platform 'GST solution' to help transition millions of traders and Micro, Small and Medium Enterprises (MSMEs) to Goods and Services Tax (GST) regime.

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Finova Capital names Rajiv Sabharwal as its Strategic Advisor

Updated: May 29, 2017 14:03 IST     

New Delhi [India], May 29 (ANI): Fast growing NBFCs based out of Jaipur, Rajasthan and floated by ex-senior banker Mohit Sahney, Finova capital on Monday announced its association with Rajiv Sabharwal as the strategic advisor.

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Pak budget has clear Chinese footprint-Experts

Updated: May 29, 2017 10:49 IST     

Islamabad/Lahore [Pakistan], May 29 (ANI): Financial and economic experts in Pakistan have said that budget proposals announced for fiscal 2017-18, have a clear and visible Chinese footprint.

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Ingredients of an impactful video content strategy

Updated: May 29, 2017 05:03 IST     

New Delhi [India], May 29 (ANI): Video content marketing is the integration of video as a part of content strategy that goes along with other forms like social text posts, banners, posters, photos, blogs, websites, etc.

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New Delhi [India], May 28 (ANI-BusinessWire India): Moving from one place or city to another is a part and parcel of our life. Sometimes we have to move from one place to another for better opportunities or some specific circumstances. Moving to a new place especially with lots of goods and household effects can be tedious and complicated process bringing an individual in stress and hassle.

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Criminal prosecution by IT Dept. surged by cent pct during Modi regime

Updated: May 27, 2017 19:41 IST      By: Shailesh Yadav

New Delhi [India], May 27 (ANI): Criminal prosecution by the Income Tax Department has witnessed a sharp increase of more than 100 percent during the last three years of Prime Minister Narendra Modi-led Government.

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New Delhi [India], May 27 (ANI): Aiming to empower Nagpur's electric mobility drive, Ola and Mahindra on Friday announced their collaboration with the Government of India in a first-of-its-kind programme to build an electric mass mobility ecosystem in Nagpur, which will bring about a transformational change in the automotive and transportation landscape in the country.

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New Delhi [India], May 27 (ANI-NewsVoir): President of India Pranab Mukherjee received the first copies of the book 'Mann Ki Baat' - A social revolution on Radio, at Rashtrapati Bhavan, New Delhi, on May 26, 2017.

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New Delhi [India], May 27 (ANI-NewsVoir): Indian-American Businessman Nitin Khanna entered California with his Cannabis business, the fastest growing industry in America. As more states legalize recreational use, the demand for premium cannabis is expected to increase. With a population of 39.1 million, California is the largest market in America within this industry; it was also the first state to legalize the medical use of marijuana back in 1996.

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Epson launches express service centres in NCR

Updated: May 27, 2017 09:23 IST     

New Delhi [India], May 27 (ANI): Digital imaging and printing solutions provider Epson on Friday announced the inauguration of two express service centres in Noida and Gurugram.

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Pune (Maharashtra) [India],May 26 (ANI-Businesswire India): Bajaj Finserv, India's most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period. The special offer is valid till May 29, 2017.

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Jugnoo takes a big leap in restaurant aggregation

Updated: May 26, 2017 16:51 IST     

New Delhi [India], May 26 (ANI-Newsvoir): Jugnoo, India's leading hyper local startup, offering a diverse range of services like rides, ready to eat meals, restaurant food delivery, grocery and B2B Delivery, records phenomenal growth for its restaurant aggregator vertical, menus.

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GST Bill unanimously approved in Tripura

Updated: May 26, 2017 15:15 IST     

Agartala (Tripura) [India], May 26 (ANI): On the concluding day of the three-day session of the Tripura Assembly on Thursday, the Left-ruled state approved the Goods and Services Tax (GST) Bill unanimously by voice vote.

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Sensex surpasses 31,000 mark, shoots by 255.17 points

Updated: May 26, 2017 14:54 IST     

New Delhi [India], May 26 (ANI): Achieving yet another milestone in just a few hours, the Sensex on Friday saw a significant surge, reaching a fresh all time high of 31,005.20, recording a rise by 255.17 points, with Nifty inching closer to the 9,600-mark.

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New Delhi [India], May 26 (ANI): The most economically developed states are not adequately adding to skill sets, which may result in severe shortages of skilled manpower in the coming years, according to an ASSOCHAM-Thought Arbitrage Paper.

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FICCI to set up StudyinIndia pavilion at NAFSA 2017

Updated: May 26, 2017 13:20 IST     

New Delhi [India], May 26 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI), along with the Ministry of Commerce, Government of India and Service Export Promotion Council and in partnership with Education Promotion Society for India will be setting up a 'StudyinIndia' pavilion, leading a delegation of over 50 Indian higher education leaders to the 69th Annual NAFSA conference scheduled to take place from May 28 to June 2 2017, in Los Angeles, U.S.A.

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Atal Pension Yojana registers 53 lakh subscribers

Updated: May 26, 2017 12:36 IST     

New Delhi [India], May 26 (ANI): The subscriber base under the Atal Pension Yojana (APY) reached approximately 53 Lakhs. At present, 235 banks and the Postal Department are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

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