CCI Imposes Rs 11,939 Lakh Fine On Pharma Firms In Last 3 Years: MCA

A total penalty of Rs 11,939 lakh was imposed by Competition Commission on pharma companies in the last three years for indulging in unfair trade practices, Ministry of Corporate Affairs informed Lok Sabha Monday.

Responding to a query, Corporate Affairs Minister Nirmala Sitharaman said from financial year 2016-17 to 2018-19, a total fine of Rs 11,939.26 lakh was imposed on various pharma companies by the Competition Commission of India (CCI).

In 2016-17, a penalty of Rs 7,296 lakh was levied while in 2018-19, Rs 4,643.26 lakh was imposed as fine on various pharma firms.

However, no fine was imposed in 2017-18, the minister said in a written reply.

On a question whether CCI has any mechanism to monitor the unethical practices by pharma companies in the country, the minister said “unethical practices do not come under the purview of CCI.”

However, CCI is mandated to prevent practices having adverse effect on competition, the minister added. – Business Standard