"Unichem will vigourously appeal the European Commission decision to the EU courts and seek to attain the correct result in this matter, a result which is in the best interests of the consumer," Unichem Laboratories said in a filing to the BSE.
The company vehemently denies any wrong doing on the part of either itself or Niche, it added.
"Moreover, Unichem was not involved in the agreement to settle the litigation with Servier back in 2005 as it only took full ownership of Niche late in 2006," Unichem said.
Yesterday, the European regulator had imposed a collective fine of 427.7 million euros on six global drug makers including Indian drug firms Unichem Laboratories and Lupin for striking deals to prevent entry of cheaper version of blood pressure drug Perindopril in the EU.
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As per the European Commission Anti-trust ruling, Lupin has been fined 40 million euros (nearly Rs 325 crore), while Unichem Laboratories was fined 13.96 million euros (over Rs 110 crore).
Besides Servier, the other drug makers on whom the European Commission has imposed fines totaling 427.7 million euros are Matrix (now part of Mylan), Teva and Krka.
Commenting on the ruling, European Commission Vice-President Joaquin Almunia, in charge of competition policy, had said: "Servier had a strategy to systematically buy out any competitive threats to make sure that they stayed out of the market. Such behaviour is clearly anti-competitive and abusive."
"Such behaviour violates EU antitrust rules that prohibit the abuse of a dominant market position," Commission had said.
Shares of Unichem Laboratories were trading at Rs 205 per scrip in the afternoon trade on BSE, down 5.73 per cent from the previous close.