About a dozen chief executives on the panel and all of them were jittery. They weighed their words carefully and in a measured, patient tone answered a volley of questions to balance the popular opinion. They were neither evil nor irrational. On 1 June, the Medical Technology Association of India (Mtai), representing multinational companies like Bausch + Lomb, Boston Scientific, Johnson & Johnson, and others, had met at Le Meridian hotel in Delhi to present their side of the story, three months after stent prices were capped in India.
It was all for naught. On 16 August, the drug regulator expanded its control of the medical device industry and capped prices for orthopedic knee implants, too.