Abbott and Medtronic withdraw pricey stents from Indian market

|About: Abbott Laboratories (ABT)|By:, SA News Editor

Price caps imposed by the Indian National Pharmaceutical Pricing Authority prompts Abbott (ABT +0.2%) to file to remove its Absorb and Alpine stents from the market. Medtronic (MDT +1.1%) has done the same regarding its Resolute Onyx.

The Indian regulator has also set limits on trade margins, discounts and other promotions used to sell higher-end products.