The National Drug's Regulator of India National Pharmaceutical Pricing Authority (NPPA) slapped the Pharma companies with a fine of Rs 672.28 crore for overcharging.
The National Regulator of Drugs, since its inception as an independent authority to regulate the Drug market of India, has issued around 1,527 dmeand notices to the pharma companies for overcharging on sales of formulations at prices above the notified ceiling price.
Notices amounting Rs 5,038.72 has already been issued and an amount of Rs 672.28 crore has been deposited by the pharma companies with the regulator. An amount of Rs 3,469.91 crore is under litigation," Minister of State for Chemicals Mansukh L Mandaviya said in a written reply to the Lok Sabha.
Total amount that the regulator has recovered during the current fiscal year till February amount to Rs 294.84 crore. The government had recovered Rs 90.17 crore in 2014-15 and Rs 12.36 crore in 2015-16.
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