Cipla says govt seeks $86 m for drug over-pricing

Cipla said it had received government notices seeking Rs 425 crore due to over pricing of certain drugs.
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Mar 05, 2012, 10.28 AM | Source: Reuters

Cipla says govt seeks $86 m for drug over-pricing

Cipla said it had received government notices seeking Rs 425 crore due to over pricing of certain drugs.

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Cipla says govt seeks $86 m for drug over-pricing

Cipla said it had received government notices seeking Rs 425 crore due to over pricing of certain drugs.

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Cipla says govt seeks $86 m for drug over-pricing
Cipla said it had received government notices seeking Rs 425 crore due to over pricing of certain drugs.

The demands are contrary to the orders passed by the Supreme Court of India and are related to the same drugs under litigation, the drugmaker said in a statement.

The company has received a legal advice which says the entire amount demanded by the National Pharmaceutical Pricing Authority (NPPA) is not tenable and sustainable, Cipla said.

NPPA is a government body that fines drugmakers in India if they over price certain drugs that have been identified under the national list of essential medicines.

 

Cipla stock price

On May 24, 2016, at 16:00 hrs Cipla was quoting at Rs 494.90, down Rs 2.5, or 0.5 percent. The 52-week high of the share was Rs 748.00 and the 52-week low was Rs 492.35.


The company's trailing 12-month (TTM) EPS was at Rs 19.63 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 25.21. The latest book value of the company is Rs 137.92 per share. At current value, the price-to-book value of the company is 3.59.

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Cipla says govt seeks $86 m for drug over-pricing

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