Call Us: +91-11-23073004, 23073042 | Mail: info@bureaucracytoday.com

CORPORATE WORLD

EU court imposes fine of 13.96 mn EUR on Unichem Lab in Perindopril litigation

PTI/Agencies, New Delhi
13/12/2018   0 Comments

Drug firm Unichem Laboratories said on Thursday that a European court has imposed a fine of 13.96 million Euros (about 113.50 million rupees) on the company and the European Commission (EC) sued litigation on its subsidiary blood pressure-drug pharmacopril Is included in. Unichem Laboratories said in a regulatory filing, "The European Union General Court has rejected the appeal on December 12, 2018 ... and has confirmed the fine of 13.96 million euros." The company said, "It is frustrated and is currently reviewing the detailed decision, it will seek appropriate legal advice on further action, including the possibility of filing an appeal before the European Court of Justice."

In 2014, Lupine and Unicom Laboratories were among six global pharmaceutical manufacturers, on which the European Commission imposed a collective fine of 427.7 million euros for striking deals in order to prevent entry of the cheap version of blood pressure drug Perindopril in the European Union. The European Commission imposed a fine of 13.96 million euros on Unichem Laboratories and its subsidiary. Niche Generic and Unicam appealed the European Commission's decision before the European Court of General on September 22, 2014.

Niche is a wholly-owned subsidiary of Unichem Laboratories. The court also upheld the penalty of 40 million euros (over Rs 325 crore) on Lupine. On the BSE, Unichem Laboratories shares were trading 0.55% lower at Rs 191.60.

WRITE A COMMENT

...
Sign in with
Or procced without registration