Drug agency Micro Labs has termed the allegations that it provided freebies price Rs 1,000 crore to docs to advertise its anti-inflammatory drug Dolo 650 as baseless.
The Supreme Court docket on Thursday was instructed by an NGO that the Central Board of Direct Taxes has accused the Bengaluru-based drug agency of distributing Rs 1,000 crore freebies to docs for prescribing its 650 mg tablets.
In an announcement, a Micro Labs spokesperson stated that in a number of the current media stories it has been falsely and maliciously alleged that the corporate has been distributing freebies price Rs 1,000 crore to advertise Dolo 650 in a single yr.
“That is extremely deceptive and is affecting the fame of Micro Labs, pharmaceutical trade and docs,” the spokesperson added.
The annual gross sales of Dolo 650 have been Rs 360 crores, about 8 per cent of the corporate gross sales.
Regardless of the uncooked materials price tripling throughout COVID instances, Micro Labs maintained its uninterrupted provides with none worth change as per the federal government mounted retail worth of lower than Rs 2 per pill, the spokesperson famous.
With a cost-effective choice like Dolo 650, docs throughout the nation have been in a position to handle most of their sufferers within the pandemic with out resorting to costly antiviral and different medicine, the spokesperson stated.
“To think about distribution of freebies price hundreds of crores is thus extremely preposterous. The corporate wish to make clear that the quantity referred to pertains to the full gross sales and advertising bills incurred by the corporate for its whole India enterprise within the final 5 years’ interval and spent throughout its entire portfolio,” the spokesperson added.
The treatment has been prescribed by docs resulting from its high quality, efficient and speedy aid from fever and on the belief constructed over three many years, the spokesperson stated.
“We’re totally cooperating with the authorities to supply all the required data and clarification for his or her due consideration,” the spokesperson added.
Final month, the Earnings Tax division had carried out searches on the premises of the drug agency over alleged tax evasion.
(Apart from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)