In February 2018, Bhupendra Singh, chairman of the National Pharmaceutical Pricing Authority, was transferred. In the three years that he had headed the drug pricing body, Singh had taken some drastic decisions. Most significant, perhaps, was the imposition of price ceilings and margin caps a little over a year ago on coronary stents, which made the devices cheaper by 70%. The reduction in stent prices enthused Indian manufacturers, which had been on the fringes of the business and had been desperately trying to prove their mettle. They now had an opening. Their combined market share has now doubled to about 20% after the price cut led some foreign companies to pull their products from India. At about Rs.1,500 cr. ($220 million), India accounts for a tiny fraction of the $7.6 billion global stent market, which is projected to grow to $13.9 billion by 2025.