Moscow, New Delhi agree to jointly fight cartelisation by pharma companies

28 March 2017 Aniket Chakraborty
Russian official praises the ethics of Indian businesses in Russia.
Drugs
A large-scale investigation into the counteraction of cartelisation is now being conducted in Russia. Source: Global Look Press

India and Russia have agreed to fight cartelisation by pharmaceutical companies, Russia’s Federal Antimonopoly Service (FAS) said on March 27.

The agreement was reached during negotiations between Head of FAS Anti-Cartel Department Andrey Tenishev and Jyoti Jindgar, Advisor (Economics) at the Competition Commission of India.

A large-scale investigation into the counteraction of cartelisation is now being conducted in Russia, Tenishev said.

According to the Russian official, no Indian company has ever been reported to the competition authority for unfair practises in Russia. He said this spoke well of Indian businesses in Russia.

The sides stressed the need to stop the cartels, to exchange experiences and develop bilateral cooperation.

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