• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Mumbai, Jan. 23

Cipla Ltd has received a demand notice from the Government amounting to Rs 27.30 crore inclusive of interest for alleged overcharging by the company between December 2003 and June 2007 on the antibiotic Ciprofloxacin. The demand is contrary to the orders of the Supreme Court and the company has received legal advice that entire amounts demanded by the Government are not tenable and sustainable, the company said in an announcement to the BSE. The total alleged overcharging amount on Cipla over the last five-plus years is at present at Rs 1,015.62 crore. And the drugs under the scanner for alleged overcharging are respiratory drugs Salbutamol and Theophylline; antibiotics, Ciprofloxacin and Norfloxacin; and cephalosporin-antibiotic Cefadroxil. The company has in the past contested the Government’s notice and the issue is at present under litigation. The Cipla shares were up over four per cent on the BSE, at Rs 182.30 on Wednesday.

— Our Bureau

More Stories on : Announcements | Pharmaceuticals | Cipla Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cipla gets notice on ‘overcharging’

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line