A pharmaceutical company was raided by tax and a multinational pharmaceutical company laid off employees in India

I went to the hospital for a long time today, and chatted with a friend's company in the afternoon.

According to Indian media reports, last week, the Indian tax authority raided the Hyderabad-based Hetero pharmaceutical company and found unidentified income of up to 5.

The specific situation is like this.

The Central Direct Tax Administration of India stated that the pharmaceutical group is engaged in the production of intermediates, APIs and preparations, and most of its products are exported to the United States and Dubai, as well as some African and European countries

This surprise inspection by the tax department found many financial problems including personal consumption included in the company’s accounts.

Cidron Pharmaceuticals was approved to produce generic drugs of Remdesivir and Favipiravir in India.

Cidelong Pharmaceuticals has also tried to enter the Chinese market.

A multinational pharmaceutical company lays off employees in India

Let's talk about the second thing

Everyone knows that the competition for diabetes products is getting bigger and bigger.

It’s not easy abroad.

The department is currently providing a comprehensive support plan for affected employees, including severance payments, and personalized reemployment consulting and services

According to the industry, severance pay is converted into 45 days of salary per year based on the length of service