US Congress initiate probe against Sun Pharma, Dr Reddy's, Cadila

The US Congress has initiated an investigation against 14 pharmaceutical companies, which include Indian pharma majors such as Sun Pharma, Dr Reddy's and Cadila, in case related to price hike of ten generic drugs, according to a Business Standard report. The US Congress has pointed out price hikes in some cases are phenomenal across ten generic products and has asked the fourteen drug makers to submit detailed information regarding price hikes undertaken for these particular generic drugs.
 
“We are conducting an investigation into the recent staggering price increases for generic drugs used to treat everything from common medical conditions to life-threatening illnesses,”  the letter to the fourteen drug companies mentioned.
 
The companies have been asked to give detailed information such as total gross revenue of companies from these drugs, the dates, quantities, purchasers, prices for sale of all these drugs, profit projections etc by October 23, 2014, said the report.
 
FOR COMPLETE REPORT READ: US Congress probes Indian pharma majors for drug price hike