Cardiac stent prices cut by up to 46%

The Directorate General of Drug Administration (DGDA) of Bangladesh has reduced the prices of cardiac stents by up to 46%.

A cardiac stent is a tube-shaped device placed in the coronary arteries that supply blood to the heart, to keep the arteries open in patients suffering from coronary heart disease.

The drug regulatory authority said the price reduction was based on a review of the market and consultations with stakeholders. The review found that the current prices are too high, especially in comparison to the prices in neighbouring countries.

According to a circular issued on Tuesday, the prices of 44 types of cardiac stents from 27 manufacturing companies have been reduced.

The stent prices were reduced by between Tk2,000 and Tk56,000 and the new prices will take effect on 16 December.

The circular, signed by Major General Mohammad Yousuf, director general of the DGDA, directed all hospitals concerned to display the new prices on their noticeboards.

At the same time, hospitals providing cardiac treatment will have to take measures not to include coronary stents in their price packages, it said.

According to the DGDA order, a separate cash memo will have to be provided mentioning the name of a coronary stent, its maximum retail price and the name of the manufacturer. The packet of a used coronary stent will have to be provided to the patient.

The circular said the price of the Alex Plus cardiac stent has been set at Tk53,000 from Tk80,000. Similarly, the price of ULTIMASTER has been reduced from Tk63,000 to Tk60,000, the Coroflex ISAR Coronary Stent System from Tk59,119.40 to Tk53,000, RESOLUTE INTEGRITY from Tk108,160.40 to Tk78,400, and the Bio Freedom stent price has been reduced from Tk121,600 to Tk65,000.

Each year, as many as 45,000 cardiac stents are used in different hospitals in the country.

New prices to benefit general patients

After suffering a heart attack, private sector employee Asaduzzaman underwent the placement of two coronary stents at the capital's Evercare Hospital in February this year. The cost for each stent amounted to Tk1.5 lakh. The total expense for his treatment, including surgery and hospital admission, came to approximately Tk5 lakh. With the reduction in the stent prices, it will now be beneficial for general patients.

The director general of the DGDA, told The Business Standard that the new prices were supposed to have been fixed in September, but as the stock of the manufacturing companies was not exhausted, they were not agreeing to sell at lower prices. Besides, the traders did not want to reduce the prices of European stents, he said, adding that after a few rounds of meetings, it was possible to convince them.

The owner of a supplier of coronary stents, who prefers to remain anonymous, told TBS, "The dollar exchange rate has increased, making it challenging to open LCs (letters of credit) at the banks. Nevertheless, the government has reduced the stent prices. This will add further complexity to importing the stents. We engage in business to make some profit. But as we have to comply with the regulator's decision, we will have to incur losses at some points."

When asked whether traders would agree to sell stents at lower prices in the face of the ongoing dollar crisis, Nurul Alam, spokesperson and deputy director of the DGDA, told TBS, "There are many companies in the country that are importing coronary stents. So the market is very competitive. If no one is willing to sell at a lower price then we will allow those who are willing to do so."

The prices of coronary stents in Bangladesh are higher compared to neighbouring countries, including India. This has led cardiac physicians to engage in discussions over the past few months on reducing their prices. They had submitted a letter to the Prime Minister's Office advocating for a reduction in the prices. In light of that letter, the DGDA took the initiative to lower the prices based on the prime minister's directives.

Appreciating the price reduction, Professor Mir Jamal Uddin, director of the National Institute of Cardiovascular Diseases, told TBS that the move will benefit general patients.

Jail or fine for non-compliance

Nurul Alam told TBS, "Instructions have been issued for the display of the list of coronary stent prices in all hospitals so that patients and their families can be informed about the new prices. Any institution or hospital selling stents at higher prices may face penalties under the Drug and Cosmetics Act, with imprisonment for up to two years or a fine of Tk2 lakh or both."