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Wednesday, April 13, 2011

GlaxoSmithKline Pharmaceuticals Ltd: Supreme Court Judgment on the Drug Price Equalisation Account demand

GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that the Supreme Court has allowed the Department's appeal and set aside the order of the Delhi High Court, thereby confirming the demand of Rs. 71.21 Crores raised by the Central Government.

The Company is reviewing the contents of the Supreme Court judgment and will take necessary steps as may be legally advised. GlaxoSmithkline is committed to operating with the highest ethical standards and will comply with all applicable legal requirements.

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