Glenmark shares fall as India’s drug regulator sends notice on overpricing – ZAWYA

Glenmark shares fall as India’s drug regulator sends notice on overpricing – ZAWYA

glenmark shares fall as india's drug regulator sends notice on overpricing mumbai-based company reduced the price of fabiflu to $1.00 per tablet last week    a tablet of avigan (generic name : favipiravir), a drug approved as an anti-influenza drug in japan and developed by drug maker toyama chemical co, a subsidiary of fujifilm holdings co. are displayed during a photo opportunity at fujifilm's headquarters in tokyo october 22, 2014. bengaluru - india's drug regulator has sent a notice to glenmark pharmaceuticals ltd on overpricing and false claims of its generic version of favipiravir, fabiflu, local media reports said, sending shares down as much as 5.8% on monday."the cost proposed by glenmark (for fabiflu) is definitely not in the interest of the poor, lower middle class and middle class people of india," the drug controller general of india (dcgi) said in a letter to the company, the mint newspaper reported on sunday.glenmark and the dcgi did not immediately respond to reuters' requests for comment.the mumbai-based company reduced the price of fabiflu to 75 rupees ($1.00) per tablet last week for restricted emergency use in patients with mild-to-moderate covid-19 symptoms in india. the dcgi also pulled up the company regarding glenmark's claims