NPPA slaps penalty on Novartis for overcharging
The National Pharmaceutical Pricing Authority (NPPA) has sent a show cause notice to Novartis, imposing a fine of Rs. 300 cr for overcharging consumers. The drug in question, which Novartis has been accused of overcharging is Voveran. Voveran is painkiller which is very popular in the market. Voveran is based on diclofenac, a drug under the government’s direct price control. Novartis has refused to confirm the amount of penalty levied. It has stated that notice is “erroneous and entirely misconceived”.
Categories: Business & Economy Current Affairs 2017