Cipla receives Rs 424 cr demand notices from NPPA
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Cipla Stock News, Analyst Calls And Reviews
The country's second biggest drug company Cipla stated that it had bagged administration notices looking for Rs 425 crore owing to over pricing of certain medications.
The demands are contrary to the orders passed by the SC of the country and are associated to the same medications under lawsuit, the drug manufacturer stated.
The company stated that it has pocketed a legal suggestion that says the entire sum demanded by NPPA is not tenable and sustainable.
NPPA is a administrative body that fines drug manufacturers in the country if they overcharge certain medications, which have been named under the national list of essential medications.
The company has been supporting coalitions to swell its footprint.
Cipla has inked a deal with the globe's biggest generic firm Teva to sell its products in certain markets.
The affiliation, which starts for the Russian market, witnesses Teva offer the marketing muscle to market Cipla's key inhaler brand Seroflo.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
Cipla receives Rs 424 cr demand notices from NPPA
Cipla receives Rs 424 cr demand notices from NPPA
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