Competition Commission slaps ~73-cr fine on Lupin

The Competition Commission of India has imposed a penalty of ~73 crore on drug maker Lupin and two of its officials for indulging in unfair business practices with regard to supply of medicines in Karnataka. Besides, the watchdog has penalised Karnataka Chemists and Druggists Association and two of its officials in the case.

Competition Commission of India (CCI) has imposed a total penalty of nearly ~73 crore on drug maker Lupin and two of its officials for unfair business practices, with regard to supply of medicines in Karnataka.

Besides, the watchdog has penalised Karnataka Chemists and Druggists Association (KCDA) and its two officials.

When contacted, a Lupin spokesperson said the company would be looking at legal recourses, including filing an appeal against the CCI order.

Together, the regulator has imposed a total fine of about ~73 crore on six entities — Lupin, KCDA and four individuals.

They have also been directed to “cease and desist” from anti-competitive practices. Lupin has been asked to pay ~72.9 crore, accounting for one per cent of its average turnover for three years starting from 2011-12.

Two officials, Amit Kumar Dhiman and Nishant Ajmera, have been fined ~5,117 and ~8,393,respectively. KCDAhas been penalised ~8.6 lakh while its two officials —A K Jeevan and D S Guddodgi — have been fined ~56,055 and ~4.5 lakh, respectively.