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Pharma major Cipla Ltd on Friday said a fine of over Rs 1 crore has been imposed on the company by GST authority for alleged inadmissible credit claim. The company has received an order dated December 18, 2024 passed by the GST authority, imposing a penalty of Rs 1,11,94,324 under applicable provisions of the Central Goods and Services Tax Act, 2017, Cipla said in a regulatory filing. "The order has been passed by GST Authority on the contention that the company has availed inadmissible TRAN-1 credit. The GST Authority has ordered for recovery of the same along with applicable interest and penalty," it added. Cipa said based on assessment of facts and prevailing law, it is "of the view that the penalty levied is arbitrary and unjustified". "The company will file necessary appeals with the appellate authority in this regard. There is no material impact on the company's financials or operations due to the said order," it added.
Drug maker Cipla on Wednesday said it has received approval from the Central Drugs Standard Control Organisation for the distribution and marketing of Afrezza inhalation powder in India. Afrezza, a product created and manufactured by MannKind Corporation (MannKind) USA, is used to improve glycemic control in adult patients with diabetes mellitus. By bringing a game-changing, patient-centred solution to diabetes management in India, Cipla will make this drug accessible to all and empower millions to take control of their health with greater ease, the Mumbai-based company said in a statement. Afrezza is a rapid-acting insulin delivered through an inhaler compared to current insulins which are given as injections. Taken at the beginning of a meal, the medication dissolves rapidly upon oral inhalation into the lungs and delivers insulin quickly to the bloodstream. Afrezza starts working as early as 12 minutes and helps in reducing the rapid increase seen in sugar levels with meals. T
Drug maker Cipla on Wednesday said the US health regulator has issued eight observations after inspecting its Bengaluru-based plant. The US Food and Drugs Administration (USFDA) conducted an inspection at the company's manufacturing facility in Virgonagar, Bengaluru from November 7- 13, the Mumbai-based based drug maker said in a filing to BSE. On conclusion of the inspection, the company received eight observations in Form 483, it added. The company said it will work closely with the USFDA and remain committed to addressing these observations comprehensively within stipulated time.