Mar 05, 2012, 10.28 AM IST | 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.

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 April 23, 2014, at 12:43 hrs Cipla was quoting at Rs 398.45, up Rs 1.10, or 0.28 percent. The 52-week high of the share was Rs 450.00 and the 52-week low was Rs 364.05.


The company's trailing 12-month (TTM) EPS was at Rs 17.18 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 23.19. The latest book value of the company is Rs 110.47 per share. At current value, the price-to-book value of the company is 3.61.

READ MORE ON  Cipla, drugs, NPPA, Supreme Court
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