Companies

I-T Dept searches drug maker Hetero’s offices, including houses of top management

Our Bureau Hyderabad | Updated on October 08, 2021

The Hyderabad-based firm is one of the major producers of antiretrovirals.

Sleuths of Income Tax (I-T) Department have conducted searches in various offices and houses of top management of drug maker Hetero in Hyderabad and Visakhapatnam.

According to sources, the officials were verifying I-T returns and other documents on business and financial transactions of the company.

The Hyderabad-based company did not respond to a query from BusinessLine on the searches.

Hetero, one of the major producers of antiretrovirals, is also one of the key producers of Covid-19 related drugs.

Last year, it had tied up with the Russian Direct Investment Fund (RDIF) to manufacture 100 million doses of Russian Covid Vaccine, Sputnik V.

It's also into making few other covid drugs, including Remdesivir.

Recently, Hetero Group Chairman B Parthasaradhi Reddy was ranked second richest man from Hyderabad as per Hurun India Rich List 2021,

Published on October 08, 2021

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