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  Business   Companies  28 Feb 2017  Biocon MD calls for regulatory body for medical devices

Biocon MD calls for regulatory body for medical devices

Published : Feb 28, 2017, 4:00 pm IST
Updated : Feb 28, 2017, 4:24 pm IST

Mazumdar-Shaw said price control on stents need to factor in design and material of their construction.

Kiran Mazumdar-Shaw of Biocon.
 Kiran Mazumdar-Shaw of Biocon.

Hyderabad: Biotech entrepreneur Kiran Mazumdar-Shaw has called for establishing a standard-setting regulatory body for medical devices, as non-certified ones put patients at serious risk.

"I certainly think we need to have a standard setting regulatory body for medical devices," the Chairperson and Managing Director of biotechnlogy firm Biocon told PTI.

IFrame"Precision of any medical intervention is critical as we cannot afford to have non-certified medical devices in the market as we will put patients at serious risk," she said.

On the National Pharmaceutical Pricing Authority's recent decision fixing price caps on coronary stents, Mazumdar-Shaw said price control on stents need to factor in the design and material of their construction."Stents are not generic. NPPA needs to understand," she said.

"NPPA is an important pharma pricing regulator. However, they need to negotiate prices upfront and not in an adhoc manner after launch," Mazumdar-Shaw commented when asked about its functioning and scope for improvement.

According to her, a credible regulatory and quality compliance system that benchmarks to internationally acceptable standards is needed to promote medical devices sector, including exports.

Earlier this month, NPPA cut prices of life-saving coronary stents by up to 85 per cent by capping them at Rs 7,260 for bare metal ones and Rs 29,600 for drug eluting variety.

The maximum retail prices of bare metal stents and drug eluting stents would be Rs 7,623 and Rs 31,080, respectively, inclusive of VAT and other local taxes.

A coronary stent is a tube-shaped device placed in the arteries that supply blood to the heart. It keeps the arteries open in the treatement of coronary heart diseases.

Tags: kiran mazumdar-shaw, biocon, medical service, biotechnology