Healthcare firm Abbott today said it has fulfilled all the requirements to discontinue its Xience Alpine drug-eluting stent in India and will not be selling the device in the country from today.
The National Pharmaceutical Pricing Authority (NPPA) in a meeting on April 23 had approved the change in date of withdrawal of Xience Alpine brand of coronary stents proposed by Abbott Healthcare.
The company has "fulfilled all the requirements to discontinue selling its Xience Alpine drug-eluting stent in India as of April 26," an Abbott spokesperson said in a statement.
The firm had begun notifying hospitals and healthcare providers of the planned discontinuation last year and has ample supply of its other Xience stents, the spokesperson added.
"Abbott is committed to ensuring patients in India have access to other products in its Xience line of drug-eluting stents, which are among the most widely used stents in the world with a proven track record of quality and safety," the statement said.
While the company is aligned with the government's intent for broader access to healthcare, it is disappointed that NPPA has determined that there is no differentiation for advances among stent generations, which could restrict future investment and innovation that benefit patients, it added.
The ceiling price that has been set unfortunately makes it an unsustainable business to continue to supply Alpine given the company's cost of importation and other associated costs, the statement said.
"We don't believe that price caps are a solution, and these will have a negative effect on the industry's ability to bring innovations to patients in India.
We will look at future opportunities to bring back Alpine if it becomes commercially viable," it added.
Abbott had in September last approached the NPPA to allow it to discontinue Xience Alpine stent following capping of prices of medical devices by the drug price regulator.
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 treatment of coronary heart diseases.
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