Prices of aortic stent grafts from Shanghai company lowered after open inquiry

The prices of aortic stent grafts developed by a Shanghai-based company have been lowered after China's National Healthcare Security Administration launched an open inquiry into the firm, the NHSA said on Monday.

The Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd., or Endovastec, has reduced the prices of its Castor branched aortic stent graft, which is available in different sizes, to about 70,000 yuan (US$ 9,800).

Before the adjustment, the selling price of its (200 mm long) Castor branched aortic stent graft was above 120,000 yuan.

After receiving public complaints concerning the abnormal prices of aortic stent grafts, the NHSA consulted with Endovastec and 11 other enterprises that produce or import aortic stent grafts, aiming to regulate overcharging for medical products, ensure the well-being of patients and safeguard the country's health care funds.

Endovastec proposed a price adjustment plan following its talks with the NHSA, but its failure to reduce the price to a reasonable level resulted in the launch of an open inquiry into the company.

The prices of relevant products from the other 11 enterprises have also been cut to below 80,000 yuan, according to the NHSA.