The European Union has banned the marketing of around 700 generic medicines for alleged manipulation of clinical trials conducted by India’s pharmaceutical research company GVK Biosciences. The largest EU-wide suspension of sales and distribution of generic drugs ordered by the European Commission. The ban will come into effect on August 21 and it will be applicable to all 28 member nations. The inspection revealed data manipulation of electrocardiograms (ECGs) during the conduct of some studies of generic medicines, which appeared to have taken place over a period of at least five years.
GVK Group
- GVK is an Indian conglomerate spanning across diverse sectors including Energy, Resources, Airports, Transportation, Hospitality and Life Sciences.
- GVK set up India’s first independent power plant, first six-lane road project and the first brownfield airport under the Public Private Partnership model.
- GVK has projects in pipeline worth over another Rs.36,000 crore (US$6.6 billion) in India.
- GVK was founded by GVK Reddy and it is headquartered at Hyderabad.
