PRICE REFIXATION CASE VENOFER INJECTION

National Accoutablilty Bureau, vide their letter No.R-501165/2013/IW-2/Inv/01072015 dated June 16, 2016
informed that during the course of investigation, the management of M/s RG Pharmaceuticals (Pvt) Ltd, Karachi admitted
their guilt and applied for Plea Bargain (PB) in order to return wrongful gain derived as result of illegal and unjustified price
increase of two drugs namely Venofer Injection and Maltofer Syrup through DPC meeting held on 09-10-2012. The PB
application of accused persons namely Tariq Haider and Mian Khalid Mehmood, Directors of M/s RG Pharmaceuticals
(Pvt) Ltd, Karachi was accepted by the Chairman NAB and approved by the Honourable Administrative Judge,
Accountability Court, Islamabad vide its order dated 14-06-2016.
2. Accordinlgly, as per directions from NAB, prices of above said drugs were reverted back from Rs.520 to Rs.366.20
per injection for Venofer Injection and from Rs.200/120ml to Rs.188.00 in case of Maltofer Syrup vide notification
No.S.R.O.624(I)/2016 dated 21st July, 2016 and directions were issued to all the concerned offices for strict implementation.

3. After notificaiton of reduced prices, M/s RG Pharma requested vide its letter dated June 21, 2016 to re-fix price of
venofer injection under provisions of the Drug Pricing Policy-2015. NAB was requested by DRAP to advise “whether NAB
has any objection on consideration of the price re-fixation of Venofer Injection as per formula provided in the Drug Pricing
Policy-2015”. National Accoutablilty Bureau vide their letter No.R-501165/2013/IW-2/Inv/01072015/9992 dated August 1,
2016 clarified that “this Bureau has no objection if the applicaiton of M/s RG Pharmacuetica (Pvt) Ltd for price fixation of
Venofer Injection is considered as per rules/ procedures/ Drug Pricing Policy in the interest of justice”.

4. The honorable Lahore High Court at Lahore filed by M/s RG Pharmaceutical vide order dated 05-12-2016 directed
to convene a meeting of the Drug Pricing Committee of the Drug Regulatory Authority of Pakistan within 15 days from the
receipt of the order of the court. In the light of above stated facts, application of RG Pharmaceutica for re-fixation of MRP is
placed before the DPC for consideration.

Brand Name Date of submission Previous price / Demaned price/ Pack size
/Composition &Company Pack size

Venofer Injection 04/07/2016 Rs.2600.00/ 5’s x5ml Rs.2848.55/5’s x5ml

Each 1ml Contains:-
20mg Iron Sucrose Reduced price /Pack size

(RG Pharmaceutica) Rs.1831.00/ 5’s x5ml

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