India's National Pharmaceutical Pricing Authority (NPPA) has fined Novartis $49 million for overcharging for its best-selling painkiller, Voveran (also sold under the Voltaren trade name).
Voveran analgesic is based on diclofenac, a component that is under the Indian's government's direct price control. The new drug price control order, implemented in May 2013, capped the prices of 348 medicines at an average of the prices of all drugs with more than one per cent market share in their respective segments.
The pricing regulator's notice gave Novartis two weeks to explain why action should not be taken against it for overcharging.
Read the Business Standard article