Shares of Unichem Laboratories Ltd tumbled nearly 5% on Friday, 19 September, after the European Commission issued a demand notice for a fine of Euro 19.49 million in the Perindopril medication case. 

Unichem Laboratories got a demand notice from the European Commission in Brussels requesting payment of a Euro 19.49 million fine in the Perindopril medication case. According to an exchange filing, the amount includes a principal penalty of €13.97 million and interest of €5.52 million. 

The company stated that its wholly owned subsidiary had already remitted Euro 2.79 million in instalments, leaving a total of Euro 16.70 million outstanding. Unichem had previously recorded the principal amount on its records, but the interest liability will now be recorded in fiscal year 2025–26.

The case involves charges that Unichem and its subsidiary, Niche Generics Ltd, violated European Union competition legislation by settling a Perindopril patent dispute with Servier Group in 2005. Unichem also stated that it is reviewing legal alternatives in cooperation with its law firm.

Unichem Laboratories Ltd. is a pharmaceutical firm dedicated to improving health through outstanding goods. Unichem offers a variety of pharmaceutical products to meet the needs of current and increasing therapeutic areas such as gastroenterology, cardiology, diabetology, psychiatry, neurology, antibacterial, anti-infective, and pain management.

Unichem is located in Mumbai, India, and has six medication manufacturing facilities throughout the country. According to the company’s official website, several of its facilities have been accredited by reputable international organisations such as the US FDA, UK MHRA, ANVISA (Brazil), COFEPRIS (Mexico), PMDA (Japan), EUGMP, EDQM (Europe), WHO (Geneva), and TGA (Australia).

At 1:20 pm, the shares of Unichem Labs were trading 2.27% lower at Rs 495.30 on NSE. 

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