Business Daily from THE HINDU group of publications
Friday, Jul 10, 2009
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Business Daily from THE HINDU group of publications Friday, Jul 10, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Regulatory Bodies & Rulings
Our Bureau Mumbai, July 9 Drugmaker Cipla has received fresh notices from the National Pharmaceutical Pricing Authority (NPPA) demanding what the NPPA says is the over-charged amount on respiratory drug Salbutamol and antibiotic Norfloxacin. The company was charged Rs 64.39 crore up to June 2009, for allegedly overcharging on Salbutamol and this included the overcharged amount of Rs 43.29 crore and the interest of Rs 21.10 crore up to June 2009, Cipla told the BSE. The notice also demanded Rs 2.19 crore, for alleged overcharging of Rs 1.45 crore for the period October 2005 to March 2006 and interest thereon of Rs 0.74 crore up to June 2009, regarding Norfloxacin. These demands are contrary to the orders of the Supreme Court, Cipla said, adding that it had received legal advice that entire amounts demanded by the Government are not tenable and sustainable. The issue has been under litigation for over five years and the total alleged overcharging amount on Cipla at present is over Rs 1,000 crore. Other drugs under the scanner for alleged overcharging, include respiratory drug Theophylline, antibiotic Ciprofloxacin and cephalosporin-antibiotic Cefadroxil. More Stories on : Regulatory Bodies & Rulings | Pharmaceuticals | Cipla Ltd
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