Shares of Unichem Laboratories Ltd slipped 3.21% to ₹492.05 on Thursday, September 18, after the company disclosed that it has received a demand notice from the European Commission seeking payment of €19.49 million (about ₹175 crore) in connection with the perindopril drug case.
The notice, received on September 17, comprises a principal penalty of €13.97 million and accrued interest of €5.52 million. Unichem clarified that its UK-based wholly-owned subsidiary, Niche Generics Ltd, has already remitted €2.79 million in instalments, leaving a balance of €16.70 million still payable.
The case dates back to 2005, when Unichem and its subsidiary were accused of breaching EU competition law by settling a patent dispute over the blood pressure drug perindopril with France’s Servier Group. The company had earlier communicated the order to the stock exchanges in June 2024.
Unichem stated that while provisions for the principal penalty have already been made in its books, it now needs to account for the interest liability of €5.52 million in FY26. The company added that it is consulting its legal advisors to explore available remedies.
The stock reacted negatively to the development, with investors cautious about the additional financial burden and legal uncertainties surrounding the long-standing case.
