Sunday, June 28, 2015

Pharma Majors Collude With Indian Govt to Jack Up Vaccine Prices

CCI imposes penalty on pharma majors GlaxosmithKline and Sanofi India

The Competition Commission of India (CCI) has imposed a Rs 60 crore penalty on pharma majors GlaxosmithKline and Rs 3 crore on Sanofi India for indulging in unfair trade practices.

 

NEW DELHI: The Competition Commission of India (CCI) has imposed a Rs 60 crore penalty on pharma majors GlaxosmithKline and Rs 3 crore on Sanofi India for indulging in unfair trade practices.

CCI has given both companies sixty days to deposit the amount.

Acting on a complaint of Bio-Med, also a pharma company, the CCI in its investigation found that both companies formed a cartel to get government tenders to supply meningitis vaccine which is required to be administered upon the pilgrims who wish to go on annual pilgrimage of Hajj.

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