Glenmark, others fined for unfair business practice

NEW DELHI: The Competition Commission of India (CCI) on Friday imposed consequences totalling nearly Rs 47 crore on Glenmark Pharmaceuticals, its 3 officers, two different pharma companies and four Gujarat-based chemists’ associations for indulging in unfair business practices. Additionally, a elevate and forward (C&F) agent has been penalised.

All the entities had been fined for violating competition norms in regards to mandating no-objection certificate (NOCs) from the associations prior to appointing entities as stockists. In an 86-page order, the CCI additionally directed the entities to “cease and desist” from indulging in “the apply of mandating NOC, which has been held to be anti-competitive”.

Three pharma companies — Glenmark, Divine Saviour and Hetero Healthcare — had been fined. Fines have additionally been imposed on C&F agent B M Thakkar & Co, Federation of Gujarat State Chemists & Druggists Association and its 3 constituent associations as well as their officers.

Glenmark, Divine, Hetero and B M Thakkar must pay a total penalty of Rs 46.four crore. Also, 3 officers of Glenmark and one in every of B M Thakkar had been slapped with a tremendous of Rs 88,386.

A complete penalty of Rs 12.five lakh has been imposed at the federation of Gujarat’s chemists and the 3 constituent associations — Amdavad Chemist Association, Surat Chemists and Druggists Association, and Chemists and Druggists Association of Baroda. Their place of job bearers must pay a total penalty of Rs 2.2 lakh.

Glenmark, others fined for unfair business practice Glenmark, others fined for unfair business practice Reviewed by kailash soni on July 14, 2018 Rating: 5
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