World Bank Bars Indian Drug Firms For Price-Fixing

Law360, New York (July 17, 2007, 12:00 AM EDT) -- Two India-based pharmaceutical companies will be ineligible to be awarded World Bank-financed contracts after an investigation revealed that they had engaged in collusive practices in connection with a reproductive and child health project in India, the World Bank Group said Monday.

New Delhi-based Nestor Pharmaceuticals Ltd. has been debarred for three years, while Pure Pharma Ltd., headquartered in Mumbai, is debarred for one year, the World Bank said.

The World Bank said the decision by its recently created sanctions board was based on evidence from a...
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