Domestic medical devices maker Translumina Therapeutics is eyeing a 25 per cent share in the Indian stents market by the 2018-end as it expands manufacturing capacity to cater the growing demand, a top company official has said.
The company currently has around 15 per cent share of the Rs 1,500 crore stents market in India, he added.
"We are looking at a 25 per cent market share of the stents market in the country by end of 2018. Currently, around seven lakh stents are implanted every year in India," Translumina Therapeutics Managing Director Gurmit Singh Chugh told PTI.
The company had created its first drug-eluting stent from India for the world in partnership with German Heart Centre in Munich in 2011, he added.
The company also has had a technological partnership with Translumina GmbH to provide engineering capabilities to set up its manufacturing plant in Dehradun, which is currently being expanded to cater to the growing demand, Chugh said.
When asked how the company is planning to fund its future expansion, he said: "To scale up our international presence we need investments for which we are looking for a large private equity investor. Till now all our growth has been through internal accruals."
Betting for the decision of the National Pharmaceutical Pricing Authority (NPPA) to cap the trade margin on stents, Chugh said: "When NPPA bought down the prices of stents, they capped the margin for distributor and hospital to a total of 8 per cent , so the biggest beneficiary of the realisation of amount form the patient is the manufacturer."
This decision also effectively put an end to the bias for imported stents, he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)