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news.Swiss drug-maker Novartis' India division has been reportedly fined INR3bn ($49m) by the National Pharmaceutical Pricing Authority (NPPA) for over pricing Voveran, its best-selling painkiller.
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NPPA is a government regulatory agency that controls the prices of pharmaceutical drugs in India.
The company has also received a show cause notice to explain in two weeks why action should not be taken against it for overcharging, according to Business Standard.
Confirming the receipt of a notice, Novartis spokesperson was quoted by the news publication as saying: "However the basis of the demand itself has been challenged by us before the Delhi High Court. Since the matter is sub judice, we are unable to comment further."
Voveran is an analgesic brand based on diclofenac, a component that was put under direct price control of the government along with 384 other medicines in May 2013.
In July 2013, Novartis, Cipla and GlaxoSmithKline (GSK) protested in the Delhi High Court against provisions of the new order, which manadated them to replace their existing stocks in the market with new ones and revised prices within 45 days.