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| Exchange Disseminated Time 30/12/2016 18:03:49 | | Merck Ltd has informed BSE that the Company has received a demand notice from National Pharmaceutical Pricing Authority (NPPA) demanding a sum of Rs. 11.68 crores plus interest Rs. 15.78 crores alleging overcharging of price of the formulation, Polybion L 100 ML syrup, during the period from January 2006 to June 2009. The government has issued the demand notice despite the fact that the Company was neither a manufacturer nor a marketer of the subject drug. The Company will challenge the said orders and will defend itself vigorously. The Company has been legally advised it has a good defendable case on merits. |
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