Sen. Dick Lugar (R-Ind.) warns that China’s proposed price controls on med-tech products will hurt Chinese patients and American companies.
Sen. Dick Lugar (R-Ind.), the head Republican on the Senate’s Foreign Affairs Committee, warned Chinese officials that its proposed price controls for medical products would hurt American companies and Chinese patients.
The letter from Lugar comes as China decides how to best provide basic medical care to all of its 1.3 billion citizens by 2020.
The U.S. med-tech industry is eyeing the future market, but worries that China will opt for price controls that would dig into industry profits and make expensive American devices less competitive, according to TheHill.com