Pharma Majors Collude With Indian Govt to Jack Up Vaccine Prices

CCI imposes penalty on pharma majors GlaxosmithKline and Sanofi India

The Competition Commission of India (CCI) has imposed a Rs 60 crore penalty on pharma majors GlaxosmithKline and Rs 3 crore on Sanofi India for indulging in unfair trade practices.

 

NEW DELHI: The Competition Commission of India (CCI) has imposed a Rs 60 crore penalty on pharma majors GlaxosmithKline and Rs 3 crore on Sanofi India for indulging in unfair trade practices.

CCI has given both companies sixty days to deposit the amount.

Acting on a complaint of Bio-Med, also a pharma company, the CCI in its investigation found that both companies formed a cartel to get government tenders to supply meningitis vaccine which is required to be administered upon the pilgrims who wish to go on annual pilgrimage of Hajj.